IBM Retirement Fund lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,497 shares of the pharmaceutical company’s stock after selling 298 shares during the period. IBM Retirement Fund’s holdings in Vertex Pharmaceuticals were worth $745,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of VRTX. Parallel Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 5.8% in the 4th quarter. Parallel Advisors LLC now owns 1,091 shares of the pharmaceutical company’s stock valued at $180,000 after purchasing an additional 60 shares during the last quarter. Kovack Advisors Inc. increased its stake in shares of Vertex Pharmaceuticals by 4.2% in the 4th quarter. Kovack Advisors Inc. now owns 1,484 shares of the pharmaceutical company’s stock valued at $246,000 after purchasing an additional 60 shares during the last quarter. Grandfield & Dodd LLC increased its stake in shares of Vertex Pharmaceuticals by 1.0% in the 4th quarter. Grandfield & Dodd LLC now owns 6,239 shares of the pharmaceutical company’s stock valued at $1,034,000 after purchasing an additional 61 shares during the last quarter. ETRADE Capital Management LLC increased its stake in shares of Vertex Pharmaceuticals by 0.5% in the 4th quarter. ETRADE Capital Management LLC now owns 11,897 shares of the pharmaceutical company’s stock valued at $1,972,000 after purchasing an additional 65 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Vertex Pharmaceuticals by 1.1% in the 4th quarter. Brown Advisory Inc. now owns 6,401 shares of the pharmaceutical company’s stock valued at $1,061,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.

VRTX has been the topic of several recent analyst reports. Maxim Group lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. They noted that the move was a valuation call. Citigroup decreased their price target on Vertex Pharmaceuticals from $206.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, January 4th. Raymond James lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $165.71 price target on the stock. in a research note on Wednesday, January 2nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $217.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, December 17th. Finally, Morgan Stanley decreased their price target on Vertex Pharmaceuticals from $211.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $206.92.

Shares of VRTX opened at $188.09 on Friday. The stock has a market cap of $48.09 billion, a price-to-earnings ratio of 66.46, a P/E/G ratio of 2.31 and a beta of 1.65. Vertex Pharmaceuticals Incorporated has a 12 month low of $144.07 and a 12 month high of $195.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.24. The firm had revenue of $870.11 million for the quarter, compared to the consensus estimate of $818.29 million. Vertex Pharmaceuticals had a return on equity of 24.15% and a net margin of 68.81%. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.04 earnings per share for the current fiscal year.

In other news, EVP Michael Parini sold 4,250 shares of the business’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $165.90, for a total value of $705,075.00. Following the transaction, the executive vice president now directly owns 43,859 shares of the company’s stock, valued at approximately $7,276,208.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul M. Silva sold 4,215 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $180.16, for a total value of $759,374.40. Following the completion of the transaction, the senior vice president now directly owns 23,386 shares in the company, valued at $4,213,221.76. The disclosure for this sale can be found here. Insiders have sold a total of 214,999 shares of company stock worth $39,289,000 over the last ninety days. Company insiders own 0.75% of the company’s stock.

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About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for treating cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for treating patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

Further Reading: Systematic Risk and Investors

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

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