Amalgamated Bank Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Amalgamated Bank decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,004 shares of the pharmaceutical company’s stock after selling 3,186 shares during the quarter. Amalgamated Bank’s holdings in Vertex Pharmaceuticals were worth $21,345,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VRTX. Mutual Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 0.6% in the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the period. Dunhill Financial LLC lifted its stake in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Simon Quick Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 1.1% in the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after acquiring an additional 24 shares during the last quarter. Spinnaker Trust increased its stake in shares of Vertex Pharmaceuticals by 2.1% in the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock worth $497,000 after acquiring an additional 25 shares during the period. Finally, Strategic Advisors LLC raised its holdings in shares of Vertex Pharmaceuticals by 0.6% during the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock worth $1,807,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ:VRTX opened at $481.65 on Tuesday. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The company has a market cap of $123.68 billion, a price-to-earnings ratio of -218.93, a PEG ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm’s 50-day simple moving average is $436.32 and its 200-day simple moving average is $460.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on VRTX shares. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Citigroup started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective for the company. Finally, Barclays raised their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $506.70.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.