Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,338 shares of the pharmaceutical company’s stock after selling 4,204 shares during the period. Sterling Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $5,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VRTX. Cambient Family Office LLC grew its position in Vertex Pharmaceuticals by 21.1% during the first quarter. Cambient Family Office LLC now owns 705 shares of the pharmaceutical company’s stock worth $315,000 after buying an additional 123 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Vertex Pharmaceuticals by 12.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 874 shares of the pharmaceutical company’s stock valued at $390,000 after acquiring an additional 94 shares during the period. GHP Investment Advisors Inc. lifted its position in shares of Vertex Pharmaceuticals by 34.4% during the 1st quarter. GHP Investment Advisors Inc. now owns 168 shares of the pharmaceutical company’s stock valued at $75,000 after acquiring an additional 43 shares during the period. AA Financial Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 8.6% during the 1st quarter. AA Financial Advisors LLC now owns 919 shares of the pharmaceutical company’s stock worth $410,000 after acquiring an additional 73 shares in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 2.4% during the 1st quarter. Aaron Wealth Advisors LLC now owns 5,042 shares of the pharmaceutical company’s stock worth $2,251,000 after acquiring an additional 117 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the transaction, the director owned 4,924 shares in the company, valued at approximately $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 1,020 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $462.17, for a total transaction of $471,413.40. Following the transaction, the chief marketing officer directly owned 15,933 shares in the company, valued at approximately $7,363,754.61. This trade represents a 6.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 16,215 shares of company stock worth $7,272,420. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Bank of America boosted their target price on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Jefferies Financial Group initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price target for the company. Finally, Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target for the company in a research note on Wednesday, March 18th. Twenty-two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $555.91.

Vertex Pharmaceuticals Price Performance

VRTX opened at $491.34 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92. The business has a 50-day moving average of $442.17 and a two-hundred day moving average of $454.16. The stock has a market capitalization of $124.70 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 2.10 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.06 earnings per share. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current 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.