Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Pinpoint Asset Management Ltd

Pinpoint Asset Management Ltd lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,460 shares of the pharmaceutical company’s stock after selling 800 shares during the quarter. Vertex Pharmaceuticals makes up approximately 0.6% of Pinpoint Asset Management Ltd’s holdings, making the stock its 28th largest position. Pinpoint Asset Management Ltd’s holdings in Vertex Pharmaceuticals were worth $3,004,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC grew its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Sugar Maple Asset Management LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $35,000. Finally, Golden State Wealth Management LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the subject of several recent analyst reports. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. StockNews.com raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Barclays increased their price objective on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada boosted their target price on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a “sector perform” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.17.

Vertex Pharmaceuticals Stock Up 0.1 %

NASDAQ:VRTX opened at $484.01 on Friday. The business’s fifty day moving average price is $480.84 and its 200 day moving average price is $463.95. The firm has a market capitalization of $124.29 billion, a price-to-earnings ratio of -220.00, a PEG ratio of 2.11 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $475.34, for a total value of $251,930.20. Following the transaction, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at $27,825,928.26. This represents a 0.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock worth $2,121,012 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.