Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by JT Stratford LLC

JT Stratford LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 55.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,956 shares of the pharmaceutical company’s stock after selling 4,942 shares during the period. JT Stratford LLC’s holdings in Vertex Pharmaceuticals were worth $1,593,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $30,000. Sugar Maple Asset Management LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $35,000. Golden State Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $37,000. Truvestments Capital LLC lifted its position in Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after purchasing an additional 23 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $40,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VRTX. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Leerink Partnrs cut Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 6th. Truist Financial upped their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $515.04.

Vertex Pharmaceuticals Trading Down 2.7%

NASDAQ VRTX opened at $435.32 on Thursday. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The firm’s fifty day simple moving average is $479.38 and its 200-day simple moving average is $463.83. The company has a market capitalization of $111.79 billion, a PE ratio of -197.87, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the company earned $4.76 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 530 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the transaction, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at $27,825,928.26. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,813 shares of company stock valued at $1,889,514. 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.