Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,622 shares of the pharmaceutical company’s stock after selling 807 shares during the period. PNC Financial Services Group Inc.’s holdings in Vertex Pharmaceuticals were worth $31,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ABC Arbitrage SA acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $1,510,000. Czech National Bank lifted its holdings in Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after acquiring an additional 3,260 shares during the period. Highview Capital Management LLC DE lifted its holdings in Vertex Pharmaceuticals by 1.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after acquiring an additional 102 shares during the period. Whalen Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $662,000. Finally, Davidson Investment Advisors lifted its stake in shares of Vertex Pharmaceuticals by 26.0% in the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock valued at $24,630,000 after purchasing an additional 12,631 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $488.29 on Monday. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The stock has a market cap of $125.39 billion, a PE ratio of -221.95, a P/E/G ratio of 2.11 and a beta of 0.41. The stock has a 50 day moving average price of $448.27 and a 200 day moving average price of $461.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

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

Analyst Ratings Changes

VRTX has been the subject of several analyst reports. BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reduced their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,084 shares of company stock worth $505,512 in the last 90 days. Insiders own 0.20% of the company’s stock.

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.