Schonfeld Strategic Advisors LLC Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Schonfeld Strategic Advisors LLC lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 89.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,400 shares of the pharmaceutical company’s stock after selling 63,371 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $2,980,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $1,374,948,000. Parnassus Investments LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $731,283,000. Capital World Investors lifted its position in shares of Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares in the last quarter. Capital Research Global Investors lifted its holdings in Vertex Pharmaceuticals by 15.8% during the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock worth $4,199,713,000 after buying an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC boosted its holdings in Vertex Pharmaceuticals by 91.2% in the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company’s stock valued at $1,190,626,000 after purchasing an additional 1,410,238 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Barclays increased their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. StockNews.com upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, Piper Sandler decreased their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $514.91.

Insider Activity

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. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction that occurred on 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. Insiders sold 4,315 shares of company stock worth $2,121,012 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $501.15 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $492.00 and its two-hundred day moving average is $467.02. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a market capitalization of $128.84 billion, a PE ratio of -227.80, a P/E/G ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.