Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 75.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111 shares of the pharmaceutical company’s stock after selling 341 shares during the period. Spartan Planning & Wealth Management’s holdings in Vertex Pharmaceuticals were worth $45,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Sherbrooke Park Advisers LLC boosted its holdings in shares of Vertex Pharmaceuticals by 65.3% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 2,645 shares of the pharmaceutical company’s stock worth $920,000 after purchasing an additional 1,045 shares during the last quarter. Telos Capital Management Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 1.6% in the 4th quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock worth $6,133,000 after acquiring an additional 237 shares during the last quarter. Morgan Stanley boosted its position in shares of Vertex Pharmaceuticals by 3.2% during the 3rd quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock worth $998,050,000 after purchasing an additional 89,217 shares during the period. ARK Investment Management LLC raised its position in Vertex Pharmaceuticals by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 124,197 shares of the pharmaceutical company’s stock valued at $50,535,000 after purchasing an additional 8,866 shares during the period. Finally, Brevan Howard Capital Management LP lifted its stake in Vertex Pharmaceuticals by 216.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock worth $1,965,000 after purchasing an additional 3,303 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler raised their target price on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price objective for the company in a report on Thursday, April 11th. BMO Capital Markets raised their price target on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. UBS Group cut their price objective on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $462.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $443.55.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $473.69 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $335.82 and a fifty-two week high of $486.42. The firm has a 50-day simple moving average of $431.54 and a 200-day simple moving average of $419.71. The company has a market capitalization of $122.24 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.47 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business posted $2.67 EPS. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Edward Morrow Atkinson III sold 7,288 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the transaction, the executive vice president now directly owns 15,972 shares in the company, valued at $7,634,616. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the transaction, the executive vice president now owns 15,972 shares in the company, valued at $7,634,616. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,086 shares of company stock worth $11,983,266. Company insiders own 0.20% of the company’s stock.

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.