Evanson Asset Management LLC Reduces Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Evanson Asset Management LLC lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 53.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 566 shares of the pharmaceutical company’s stock after selling 659 shares during the quarter. Evanson Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC raised its position in Vertex Pharmaceuticals by 131.8% in the third quarter. Asset Dedication LLC now owns 102 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 58 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Vertex Pharmaceuticals by 30.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,097 shares of the pharmaceutical company’s stock worth $1,772,000 after acquiring an additional 1,197 shares during the period. Parkside Financial Bank & Trust raised its position in Vertex Pharmaceuticals by 8.4% in the third quarter. Parkside Financial Bank & Trust now owns 645 shares of the pharmaceutical company’s stock worth $224,000 after acquiring an additional 50 shares during the period. O Shaughnessy Asset Management LLC raised its position in Vertex Pharmaceuticals by 32.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 13,308 shares of the pharmaceutical company’s stock worth $4,628,000 after acquiring an additional 3,246 shares during the period. Finally, Morse Asset Management Inc raised its position in Vertex Pharmaceuticals by 8.5% in the third quarter. Morse Asset Management Inc now owns 7,942 shares of the pharmaceutical company’s stock worth $2,762,000 after acquiring an additional 621 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,350 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the transaction, the executive vice president now directly owns 53,523 shares in the company, valued at approximately $23,502,484.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ourania Tatsis sold 2,350 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the completion of the sale, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the sale, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at approximately $15,477,162. The disclosure for this sale can be found here. Insiders have sold 26,086 shares of company stock worth $11,983,266 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of a number of analyst reports. Canaccord Genuity Group restated a “sell” rating and set a $371.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price on the stock in a research note on Thursday, April 11th. Argus lifted their target price on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Royal Bank of Canada lowered their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 11th. Finally, Guggenheim boosted their price target on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $444.23.

Check Out Our Latest Stock Analysis on Vertex Pharmaceuticals

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $473.82 on Wednesday. The company has a market capitalization of $122.27 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.44 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 12 month low of $335.82 and a 12 month high of $486.42. The firm’s 50-day moving average is $440.20 and its 200 day moving average is $424.71. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.66 by $1.10. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.67 EPS. Research analysts predict 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.

Featured Articles

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

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.