LRI Investments LLC Reduces Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

LRI Investments LLC lowered its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 52.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 397 shares of the pharmaceutical company’s stock after selling 438 shares during the quarter. LRI Investments LLC’s holdings in Vertex Pharmaceuticals were worth $160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $30,000. Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth $35,000. Golden State Wealth Management LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at $37,000. Truvestments Capital LLC grew its holdings in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after purchasing an additional 23 shares during the period. Finally, ORG Partners LLC grew its holdings in Vertex Pharmaceuticals by 108.2% during the fourth quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company’s stock valued at $41,000 after purchasing an additional 53 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Barclays raised 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. Finally, Leerink Partners restated a “market perform” rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $515.04.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the transaction, the executive vice president now owns 58,539 shares in the company, valued at $27,825,928.26. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,005 shares of company stock worth $1,978,465. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 3.4%

Shares of NASDAQ VRTX opened at $439.37 on Tuesday. 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 12-month low of $377.85 and a 12-month high of $519.88. The firm’s 50-day moving average price is $487.70 and its 200-day moving average price is $465.56. The stock has a market capitalization of $112.83 billion, a price-to-earnings ratio of -199.71, a P/E/G ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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). The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $4.76 earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.