Central Pacific Bank Trust Division decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 40.8% in the fourth quarter, Holdings Channel reports. The firm owned 5,153 shares of the pharmaceutical company’s stock after selling 3,550 shares during the period. Central Pacific Bank Trust Division’s holdings in Vertex Pharmaceuticals were worth $2,075,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of VRTX. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth about $27,000. Dunhill Financial LLC increased its position in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Institutional investors own 90.96% of the company’s stock.
Vertex Pharmaceuticals Stock Performance
Shares of VRTX traded up $4.59 during mid-day trading on Friday, reaching $410.35. The company had a trading volume of 588,253 shares, compared to its average volume of 928,140. The stock has a market capitalization of $105.68 billion, a P/E ratio of -206.21 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The stock has a 50 day moving average of $456.78 and a two-hundred day moving average of $470.61. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on VRTX. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, December 20th. Bank of America lowered their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, HC Wainwright reduced their price target on Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $494.04.
Read Our Latest Stock Analysis on VRTX
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.
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