Voloridge Investment Management LLC Lowers Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Voloridge Investment Management LLC lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 208,875 shares of the pharmaceutical company’s stock after selling 51,910 shares during the period. Voloridge Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $44,885,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. purchased a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $25,000. Ancora Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 205.6% during the fourth quarter. Ancora Advisors LLC now owns 110 shares of the pharmaceutical company’s stock valued at $26,000 after buying an additional 74 shares during the last quarter. Selective Wealth Management Inc. raised its position in shares of Vertex Pharmaceuticals by 50.0% during the first quarter. Selective Wealth Management Inc. now owns 150 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 50 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $33,000. Finally, Clearstead Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $34,000. 89.88% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently issued reports on VRTX. reduced their price objective on shares of Vertex Pharmaceuticals from $325.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, June 11th. Robert W. Baird reduced their price target on shares of Vertex Pharmaceuticals from $252.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday, June 11th. They noted that the move was a valuation call. Evercore ISI restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, June 13th. Cantor Fitzgerald reduced their price target on shares of Vertex Pharmaceuticals from $285.00 to $281.00 and set an “overweight” rating on the stock in a research report on Friday, June 11th. Finally, Wolfe Research initiated coverage on shares of Vertex Pharmaceuticals in a research report on Monday. They issued an “outperform” rating and a $252.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $262.75.

NASDAQ VRTX traded down $0.36 during trading on Thursday, reaching $195.91. 4,508 shares of the company’s stock traded hands, compared to its average volume of 2,269,739. Vertex Pharmaceuticals Incorporated has a 12-month low of $185.32 and a 12-month high of $293.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.24 and a current ratio of 4.39. The stock has a market cap of $50.72 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.82 and a beta of 0.66. The company has a 50 day simple moving average of $202.46.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, April 29th. The pharmaceutical company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.60. Vertex Pharmaceuticals had a net margin of 43.06% and a return on equity of 29.61%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 9.45 earnings per share for the current year.

In other news, EVP Bastiano Sanna sold 960 shares of the firm’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $218.43, for a total value of $209,692.80. Following the completion of the sale, the executive vice president now owns 35,068 shares of the company’s stock, valued at approximately $7,659,903.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 559 shares of the company’s stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $209.69, for a total value of $117,216.71. Following the transaction, the director now directly owns 5,465 shares in the company, valued at $1,145,955.85. The disclosure for this sale can be found here. Insiders sold 5,403 shares of company stock valued at $1,166,087 over the last quarter. 0.70% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 12 years of age or older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator, or CFTR, gene.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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