Assetmark Inc. Sells 124,206 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Assetmark Inc. lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 60.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,865 shares of the pharmaceutical company’s stock after selling 124,206 shares during the quarter. Assetmark Inc.’s holdings in Vertex Pharmaceuticals were worth $32,162,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. ABC Arbitrage SA purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,510,000. Czech National Bank lifted its stake in Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock worth $22,486,000 after acquiring an additional 3,260 shares during the period. Highview Capital Management LLC DE lifted its stake in Vertex Pharmaceuticals by 1.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock worth $2,324,000 after acquiring an additional 102 shares during the period. Whalen Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals in the third quarter worth $662,000. Finally, Davidson Investment Advisors lifted its stake in Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after acquiring an additional 12,631 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 1,084 shares of company stock valued at $505,512. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Price Performance

VRTX opened at $491.64 on Thursday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock has a 50-day moving average price of $445.18 and a 200-day moving average price of $461.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The firm has a market cap of $126.25 billion, a PE ratio of -223.47, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its 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 return on equity of 2.02% and a negative net margin of 4.86%. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VRTX. Oppenheimer lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a research note on Friday, January 31st. Barclays raised their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals 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.