LGT Fund Management Co Ltd. Trims Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

LGT Fund Management Co Ltd. decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,177 shares of the pharmaceutical company’s stock after selling 226 shares during the period. LGT Fund Management Co Ltd.’s holdings in Vertex Pharmaceuticals were worth $474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Edgewood Management LLC grew its stake in shares of Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after buying an additional 1,526,983 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $435,899,000. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after buying an additional 704,421 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Vertex Pharmaceuticals by 169.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock worth $338,136,000 after buying an additional 528,029 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $483.31 on Tuesday. The business’s fifty day simple moving average is $441.95 and its 200-day simple moving average is $461.06. The company has a market cap of $124.11 billion, a PE ratio of -219.69, a PEG ratio of 2.11 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 530 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total value of $251,930.20. Following the transaction, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at $27,825,928.26. This represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 1,084 shares of company stock valued at $505,512 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of several analyst reports. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a research report on Thursday, January 30th. Royal Bank of Canada increased their price target on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. HC Wainwright restated a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, Citigroup began coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $506.70.

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.