New Age Alpha Advisors LLC Cuts Holdings in Vertex Pharmaceuticals Incorporated $VRTX

New Age Alpha Advisors LLC cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,622 shares of the pharmaceutical company’s stock after selling 1,317 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $5,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $29,000. IMG Wealth Management Inc. boosted its stake in Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 50 shares during the last quarter. Colonial Trust Co SC boosted its stake in Vertex Pharmaceuticals by 118.8% in the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. Ares Financial Consulting LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $33,000. Finally, Archer Investment Corp boosted its stake in Vertex Pharmaceuticals by 89.7% in the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after acquiring an additional 35 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 stock opened at $434.52 on Monday. The stock has a market capitalization of $110.28 billion, a P/E ratio of 25.77, a PEG ratio of 1.86 and a beta of 0.30. The firm’s 50 day moving average is $441.55 and its 200 day moving average is $451.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92.

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

Analyst Ratings Changes

A number of research firms have weighed in on VRTX. Canaccord Genuity Group dropped their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Maxim Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price on the stock in a research note on Wednesday, March 18th. Barclays boosted their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, UBS Group boosted their target price on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $555.17.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Kristen Ambrose sold 223 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $108,456.05. Following the sale, the chief accounting officer owned 6,981 shares in the company, valued at $3,395,209.35. The trade was a 3.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,189 shares of company stock worth $9,923,036 in the last ninety days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.