Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,887,412 shares of the pharmaceutical company’s stock after selling 962,654 shares during the period. Price T Rowe Associates Inc. MD owned 2.28% of Vertex Pharmaceuticals worth $2,395,530,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of VRTX. Profund Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 14.2% during the fourth quarter. Profund Advisors LLC now owns 28,082 shares of the pharmaceutical company’s stock worth $11,426,000 after buying an additional 3,495 shares during the period. Groupama Asset Managment purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $10,191,000. Bridger Management LLC lifted its position in shares of Vertex Pharmaceuticals by 13.2% during the 4th quarter. Bridger Management LLC now owns 48,000 shares of the pharmaceutical company’s stock valued at $19,531,000 after acquiring an additional 5,600 shares during the period. Brevan Howard Capital Management LP lifted its position in shares of Vertex Pharmaceuticals by 216.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock valued at $1,965,000 after acquiring an additional 3,303 shares during the period. Finally, LM Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $310,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In related news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now owns 32,379 shares in the company, valued at $15,477,162. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares in the company, valued at $15,477,162. The disclosure for this sale can be found here. Insiders sold 26,086 shares of company stock worth $11,983,266 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. HC Wainwright reissued a “buy” rating and set a $462.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $440.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Piper Sandler boosted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Canaccord Genuity Group reissued a “sell” rating and set a $371.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.48.

Check Out Our Latest Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded up $3.24 on Thursday, reaching $479.03. The stock had a trading volume of 808,396 shares, compared to its average volume of 1,219,967. The company has a market capitalization of $123.61 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 2.48 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1-year low of $335.82 and a 1-year high of $486.42. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average price of $428.67 and a 200-day moving average price of $417.00.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $2.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 EPS for the current year.

Vertex Pharmaceuticals Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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