Cullinan Associates Inc. Sells 1,500 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cullinan Associates Inc. cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,162 shares of the pharmaceutical company’s stock after selling 1,500 shares during the period. Vertex Pharmaceuticals makes up approximately 1.4% of Cullinan Associates Inc.’s portfolio, making the stock its 16th biggest position. Cullinan Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $21,408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mutual Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after buying an additional 21 shares during the period. Daymark Wealth Partners LLC grew its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 22 shares during the period. Grove Bank & Trust increased its holdings in shares of Vertex Pharmaceuticals by 5.7% during the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after acquiring an additional 22 shares in the last quarter. Outlook Wealth Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 2.8% during the third quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock worth $415,000 after purchasing an additional 24 shares during the period. Finally, Dunhill Financial LLC lifted its holdings in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $470.37 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company’s fifty day simple moving average is $434.55 and its two-hundred day simple moving average is $462.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.67 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.93 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday. JPMorgan Chase & Co. decreased their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Finally, Piper Sandler cut their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $502.58.

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.