STF Management LP Sells 2,492 Shares of Vertex Pharmaceuticals Incorporated $VRTX

STF Management LP reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 62.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,494 shares of the pharmaceutical company’s stock after selling 2,492 shares during the period. STF Management LP’s holdings in Vertex Pharmaceuticals were worth $677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. iA Global Asset Management Inc. lifted its stake in shares of Vertex Pharmaceuticals by 5.1% during the 4th quarter. iA Global Asset Management Inc. now owns 37,685 shares of the pharmaceutical company’s stock worth $17,085,000 after acquiring an additional 1,843 shares during the last quarter. May Hill Capital LLC lifted its holdings in Vertex Pharmaceuticals by 108.1% during the 4th quarter. May Hill Capital LLC now owns 1,332 shares of the pharmaceutical company’s stock valued at $604,000 after buying an additional 692 shares in the last quarter. Canada Post Corp Registered Pension Plan lifted its holdings in Vertex Pharmaceuticals by 59.7% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,474 shares of the pharmaceutical company’s stock valued at $2,935,000 after buying an additional 2,420 shares in the last quarter. DNB Asset Management AS lifted its holdings in Vertex Pharmaceuticals by 25.4% during the 4th quarter. DNB Asset Management AS now owns 119,685 shares of the pharmaceutical company’s stock valued at $54,260,000 after buying an additional 24,271 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at about $58,000. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their price objective on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a report on Tuesday, May 5th. HC Wainwright lifted their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Evercore lifted their price objective on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Royal Bank Of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $555.17.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $436.95 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The firm has a market cap of $110.90 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.87 and a beta of 0.30. The firm has a 50-day simple moving average of $445.56 and a 200-day simple moving average of $450.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the business posted $4.06 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Amit Sachdev sold 58,613 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $468.83, for a total value of $27,479,532.79. Following the completion of the transaction, the executive vice president directly owned 58,934 shares of the company’s stock, valued at approximately $27,630,027.22. The trade was a 49.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Carmen Bozic sold 6,988 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the transaction, the chief marketing officer directly owned 26,088 shares of the company’s stock, valued at approximately $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 79,802 shares of company stock worth $37,402,568. Company insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

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.