Ieq Capital LLC Trims Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Ieq Capital LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,223 shares of the pharmaceutical company’s stock after selling 4,358 shares during the quarter. Ieq Capital LLC’s holdings in Vertex Pharmaceuticals were worth $7,338,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $27,000. Dunhill Financial LLC boosted its stake in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals in the third quarter worth approximately $33,000. Finally, Truvestments Capital LLC bought a new position in Vertex Pharmaceuticals in the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

VRTX has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Scotiabank raised their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. UBS Group boosted their price objective 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. Finally, Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $505.61.

Vertex Pharmaceuticals Stock Up 1.8 %

NASDAQ:VRTX opened at $480.33 on Friday. 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 company’s fifty day moving average price is $435.64 and its 200-day moving average price is $460.65. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The firm has a market capitalization of $123.34 billion, a P/E ratio of -218.33, a PEG ratio of 2.03 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current year.

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.