Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,578 shares of the pharmaceutical company’s stock after selling 4,045 shares during the period. Comerica Bank’s holdings in Vertex Pharmaceuticals were worth $19,965,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $35,000. Golden State Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. Truvestments Capital LLC lifted its position in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after buying an additional 23 shares in the last quarter. Finally, Midwest Capital Advisors LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $41,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Down 2.1 %

VRTX opened at $498.86 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The stock has a market capitalization of $128.25 billion, a price-to-earnings ratio of -226.75, a PEG ratio of 2.11 and a beta of 0.50. 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 business has a fifty day moving average price of $491.59 and a 200 day moving average price of $467.04.

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 the consensus estimate 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%. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, April 22nd. HC Wainwright reissued a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Bank of America lifted their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a research report on Monday, March 31st. Finally, Truist Financial raised their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $514.91.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company’s stock.

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.