Corient Private Wealth LLC Sells 7,776 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Corient Private Wealth LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,468 shares of the pharmaceutical company’s stock after selling 7,776 shares during the period. Corient Private Wealth LLC owned about 0.06% of Vertex Pharmaceuticals worth $62,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Sherbrooke Park Advisers LLC increased its holdings in Vertex Pharmaceuticals by 65.3% in the third quarter. Sherbrooke Park Advisers LLC now owns 2,645 shares of the pharmaceutical company’s stock valued at $920,000 after purchasing an additional 1,045 shares during the period. Telos Capital Management Inc. increased its holdings in Vertex Pharmaceuticals by 1.6% in the fourth quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock valued at $6,133,000 after purchasing an additional 237 shares during the period. Morgan Stanley increased its holdings in Vertex Pharmaceuticals by 3.2% in the third quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock valued at $998,050,000 after purchasing an additional 89,217 shares during the period. ARK Investment Management LLC increased its holdings in Vertex Pharmaceuticals by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 124,197 shares of the pharmaceutical company’s stock valued at $50,535,000 after purchasing an additional 8,866 shares during the period. Finally, Grey Street Capital LLC increased its holdings in Vertex Pharmaceuticals by 31.6% in the fourth quarter. Grey Street Capital LLC now owns 36,565 shares of the pharmaceutical company’s stock valued at $14,878,000 after purchasing an additional 8,785 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the sale, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded up $3.32 during trading hours on Wednesday, hitting $445.32. The stock had a trading volume of 50,688 shares, compared to its average volume of 1,202,582. The company has a 50 day simple moving average of $410.97 and a two-hundred day simple moving average of $405.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. Vertex Pharmaceuticals Incorporated has a one year low of $320.01 and a one year high of $448.40. The firm has a market capitalization of $114.91 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 2.13 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $2.67 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VRTX. Canaccord Genuity Group reissued a “sell” rating and set a $371.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. Evercore ISI raised shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target on the stock in a research report on Thursday, April 11th. Maxim Group cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Wells Fargo & Company raised their price target on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Finally, Truist Financial raised their price target on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $432.18.

About Vertex Pharmaceuticals

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.