QRG Capital Management Inc. Decreases Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

QRG Capital Management Inc. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,562 shares of the pharmaceutical company’s stock after selling 1,780 shares during the quarter. QRG Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $6,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VRTX. Dunhill Financial LLC increased its stake in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth $33,000. Truvestments Capital LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter worth $35,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 1,084 shares of company stock worth $505,512. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $479.79 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The firm has a market capitalization of $123.21 billion, a P/E ratio of -218.09, a PEG ratio of 2.11 and a beta of 0.41. 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 50-day moving average price of $440.39 and a 200-day moving average price of $461.10.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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%. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the topic of several recent analyst reports. Bank of America cut their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus lifted their price target on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $506.70.

Vertex Pharmaceuticals Company 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.