Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Prossimo Advisors LLC

Prossimo Advisors LLC trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,049 shares of the pharmaceutical company’s stock after selling 38 shares during the period. Prossimo Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $825,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ABC Arbitrage SA acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $1,510,000. Czech National Bank increased its position in shares of Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after buying an additional 3,260 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth $662,000. Highview Capital Management LLC DE boosted its position in shares of Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock worth $2,324,000 after buying an additional 102 shares in the last quarter. Finally, Concord Wealth Partners grew its stake in Vertex Pharmaceuticals by 32.6% in the 4th quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after acquiring an additional 862 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $462.11 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a 50-day moving average price of $435.25 and a two-hundred day moving average price of $460.44. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month 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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on VRTX. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the company from $500.00 to $550.00 in a report on Monday, December 9th. Barclays upped their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Piper Sandler dropped their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $505.57.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the sale, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Company Profile

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.