Massachusetts Financial Services Co. MA Lowers Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Massachusetts Financial Services Co. MA lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 60.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 503,160 shares of the pharmaceutical company’s stock after selling 781,194 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Vertex Pharmaceuticals were worth $197,058,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lee Johnson Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth $721,000. Police & Firemen s Retirement System of New Jersey raised its holdings in Vertex Pharmaceuticals by 3.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock worth $17,378,000 after purchasing an additional 1,393 shares in the last quarter. Bailard Inc. raised its holdings in Vertex Pharmaceuticals by 0.5% during the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock worth $16,983,000 after purchasing an additional 200 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at about $10,059,000. Finally, Moody Lynn & Lieberson LLC lifted its position in Vertex Pharmaceuticals by 1.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after purchasing an additional 822 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRTX. Scotiabank began coverage on Vertex Pharmaceuticals in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price target for the company. Wells Fargo & Company increased their price objective on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Wolfe Research raised shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target on the stock in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $564.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $503.80.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Charles F. Wagner, Jr. sold 14,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,202,600. The trade was a 27.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the transaction, the executive vice president owned 42,293 shares of the company’s stock, valued at $20,088,752.07. The trade was a 9.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 165,105 shares of company stock worth $73,858,523. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.6%

NASDAQ:VRTX opened at $441.36 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68. The firm has a market cap of $111.98 billion, a price-to-earnings ratio of 31.13 and a beta of 0.31. The company’s 50-day moving average is $447.00 and its two-hundred day moving average is $426.99.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.38 earnings per share. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.