Cullinan Associates Inc. Has $18.74 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cullinan Associates Inc. lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 23.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 64,881 shares of the pharmaceutical company’s stock after selling 19,400 shares during the quarter. Vertex Pharmaceuticals accounts for about 1.0% of Cullinan Associates Inc.’s holdings, making the stock its 17th biggest position. Cullinan Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $18,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. AdvisorNet Financial Inc grew its stake in Vertex Pharmaceuticals by 5.3% during the third quarter. AdvisorNet Financial Inc now owns 1,153 shares of the pharmaceutical company’s stock worth $334,000 after purchasing an additional 58 shares during the period. NewEdge Advisors LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $1,318,000. Quadrant Capital Group LLC boosted its holdings in shares of Vertex Pharmaceuticals by 8.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,012 shares of the pharmaceutical company’s stock worth $583,000 after buying an additional 161 shares in the last quarter. LMR Partners LLP grew its position in shares of Vertex Pharmaceuticals by 35.1% during the 3rd quarter. LMR Partners LLP now owns 18,980 shares of the pharmaceutical company’s stock worth $5,495,000 after buying an additional 4,928 shares during the period. Finally, HB Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 21.0% in the 3rd quarter. HB Wealth Management LLC now owns 1,635 shares of the pharmaceutical company’s stock valued at $473,000 after acquiring an additional 284 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 1.6 %

NASDAQ:VRTX opened at $295.77 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.83 and a quick ratio of 4.66. The firm has a 50-day moving average of $299.15 and a 200-day moving average of $299.14. The company has a market cap of $76.04 billion, a PE ratio of 23.05, a PEG ratio of 2.60 and a beta of 0.49. Vertex Pharmaceuticals Incorporated has a one year low of $233.01 and a one year high of $325.19.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last posted its earnings results on Tuesday, February 7th. The pharmaceutical company reported $3.76 EPS for the quarter, topping the consensus estimate of $3.11 by $0.65. Vertex Pharmaceuticals had a net margin of 37.20% and a return on equity of 27.78%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm posted $3.18 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 12.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRTX. Piper Sandler reissued a “neutral” rating and set a $296.00 target price on shares of Vertex Pharmaceuticals in a research note on Wednesday, February 8th. HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Morgan Stanley decreased their target price on Vertex Pharmaceuticals from $286.00 to $285.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 8th. SVB Securities cut their price target on Vertex Pharmaceuticals from $374.00 to $365.00 in a report on Wednesday, February 8th. Finally, Canaccord Genuity Group started coverage on Vertex Pharmaceuticals in a report on Wednesday, January 18th. They set a “hold” rating and a $311.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $327.10.

Insider Buying and Selling

In related news, CFO Charles F. Wagner, Jr. sold 2,666 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $293.83, for a total transaction of $783,350.78. Following the transaction, the chief financial officer now directly owns 53,379 shares in the company, valued at $15,684,351.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Charles F. Wagner, Jr. sold 2,666 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $293.83, for a total transaction of $783,350.78. Following the transaction, the chief financial officer now directly owns 53,379 shares in the company, valued at $15,684,351.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Kristen Ambrose sold 1,207 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $287.55, for a total transaction of $347,072.85. Following the transaction, the chief accounting officer now owns 7,303 shares in the company, valued at $2,099,977.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,916 shares of company stock worth $12,466,970. 0.40% of the stock is owned by insiders.

Vertex Pharmaceuticals Company Profile

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Vertex Pharmaceuticals, Inc is a global biotechnology company, which engages in the business of discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.