EULAV Asset Management Sells 3,000 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

EULAV Asset Management reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,500 shares of the pharmaceutical company’s stock after selling 3,000 shares during the period. EULAV Asset Management’s holdings in Vertex Pharmaceuticals were worth $11,477,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. State Street Corp boosted its holdings in Vertex Pharmaceuticals by 0.8% during the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after acquiring an additional 90,173 shares during the period. Jennison Associates LLC grew its holdings in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after acquiring an additional 851,054 shares in the last quarter. Wellington Management Group LLP increased its position in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Vertex Pharmaceuticals by 5.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after purchasing an additional 159,693 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Vertex Pharmaceuticals by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after purchasing an additional 100,114 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on VRTX shares. Scotiabank boosted their price objective on shares of Vertex Pharmaceuticals from $430.00 to $433.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Truist Financial cut their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Finally, William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $502.58.

Vertex Pharmaceuticals Trading Down 2.5 %

Shares of NASDAQ VRTX opened at $469.32 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average price is $435.84 and its 200 day moving average price is $462.87.

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.