Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 147,149 shares of the pharmaceutical company’s stock after selling 41,431 shares during the period. Congress Asset Management Co.’s holdings in Vertex Pharmaceuticals were worth $59,257,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Mutual Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after acquiring an additional 21 shares in the last quarter. Outlook Wealth Advisors LLC increased its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock valued at $415,000 after purchasing an additional 24 shares during the last quarter. Dunhill Financial LLC raised its holdings in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Simon Quick Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 1.1% during the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock worth $900,000 after buying an additional 24 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 17.6% in the 3rd quarter. Oakworth Capital Inc. now owns 167 shares of the pharmaceutical company’s stock valued at $78,000 after buying an additional 25 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Bank of America decreased their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, BMO Capital Markets decreased their price objective on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $505.57.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $459.00 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a 50 day simple moving average of $435.69 and a 200-day simple moving average of $461.52. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

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.