UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,329,219 shares of the pharmaceutical company’s stock after selling 112,249 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.90% of Vertex Pharmaceuticals worth $937,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truvestments Capital LLC raised its position in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after purchasing an additional 23 shares during the period. Simon Quick Advisors LLC lifted its position in Vertex Pharmaceuticals by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after purchasing an additional 24 shares during the last quarter. Spinnaker Trust boosted its stake in shares of Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock valued at $497,000 after purchasing an additional 25 shares during the period. Strategic Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock worth $1,807,000 after purchasing an additional 25 shares during the last quarter. Finally, Moors & Cabot Inc. grew its holdings in shares of Vertex Pharmaceuticals by 0.7% in the fourth quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company’s stock worth $1,451,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $440.66 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The business’s fifty day simple moving average is $481.88 and its two-hundred day simple moving average is $464.15. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company has a market cap of $113.16 billion, a price-to-earnings ratio of -200.30, a P/E/G ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Vertex Pharmaceuticals’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.76 earnings per share. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on VRTX. Truist Financial increased their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Bank of America increased their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and boosted their price target for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $515.04.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total value of $251,930.20. Following the completion of the sale, the executive vice president now owns 58,539 shares of the company’s stock, valued at $27,825,928.26. The trade was a 0.90% decrease in their ownership of the stock. The sale 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 stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,813 shares of company stock worth $1,889,514. 0.20% of the stock is owned by insiders.

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.