Moody Lynn & Lieberson LLC Has $22.15 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Moody Lynn & Lieberson LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% during the third quarter, HoldingsChannel.com reports. The firm owned 56,559 shares of the pharmaceutical company’s stock after selling 1,518 shares during the quarter. Vertex Pharmaceuticals makes up 1.2% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 24th biggest position. Moody Lynn & Lieberson LLC’s holdings in Vertex Pharmaceuticals were worth $22,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $1,593,974,000. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 21.5% during the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after acquiring an additional 1,089,063 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Vertex Pharmaceuticals by 214.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 763,703 shares of the pharmaceutical company’s stock valued at $299,097,000 after purchasing an additional 520,949 shares during the period. Vanguard Group Inc. lifted its stake in shares of Vertex Pharmaceuticals by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock valued at $10,673,126,000 after purchasing an additional 482,616 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Vertex Pharmaceuticals by 10.7% in the 2nd quarter. Alliancebernstein L.P. now owns 4,378,320 shares of the pharmaceutical company’s stock worth $1,949,228,000 after purchasing an additional 424,808 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Activity at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,202,600. The trade was a 27.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 151,073 shares of company stock worth $67,326,816 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.3%

VRTX opened at $453.74 on Wednesday. The stock has a market capitalization of $115.12 billion, a P/E ratio of 32.00 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The firm’s fifty day simple moving average is $437.13 and its 200 day simple moving average is $426.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $4.38 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on Vertex Pharmaceuticals in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective for the company. Royal Bank Of Canada decreased their target price on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Barclays increased their price target on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Finally, Morgan Stanley set a $564.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, December 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $502.05.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.