Fisher Asset Management LLC Sells 1,083 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fisher Asset Management LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 27,022 shares of the pharmaceutical company’s stock after selling 1,083 shares during the period. Fisher Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $12,568,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $27,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $29,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals during the second quarter worth about $31,000. Finally, Founders Capital Management increased its stake in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,445 shares of company stock valued at $2,218,394. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $464.56 on Thursday. The firm has a 50 day simple moving average of $473.08 and a two-hundred day simple moving average of $474.28. Vertex Pharmaceuticals Incorporated has a one year low of $346.29 and a one year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a market cap of $119.64 billion, a PE ratio of -233.45 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the firm posted $3.67 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Piper Sandler boosted their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group raised their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Scotiabank boosted their target price on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright restated a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $504.38.

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.