Snowden Capital Advisors LLC Cuts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Snowden Capital Advisors LLC decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 58.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,740 shares of the pharmaceutical company's stock after selling 6,647 shares during the quarter. Snowden Capital Advisors LLC's holdings in Vertex Pharmaceuticals were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of VRTX. Norges Bank acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,374,948,000. Parnassus Investments LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $731,283,000. Capital World Investors raised its stake in shares of Vertex Pharmaceuticals by 5.7% in the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after purchasing an additional 1,514,993 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Vertex Pharmaceuticals by 15.8% in the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock valued at $4,199,713,000 after purchasing an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC raised its stake in shares of Vertex Pharmaceuticals by 91.2% in the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock valued at $1,190,626,000 after purchasing an additional 1,410,238 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded up $6.52 during trading hours on Tuesday, hitting $447.18. The stock had a trading volume of 1,510,440 shares, compared to its average volume of 1,412,201. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The firm has a market capitalization of $114.83 billion, a PE ratio of -203.26, a PEG ratio of 2.11 and a beta of 0.51. The stock has a fifty day moving average price of $480.76 and a 200 day moving average price of $464.03.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the firm posted $4.76 EPS. The business's revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In other news, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 530 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 58,539 shares in the company, valued at approximately $27,825,928.26. The trade was a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,813 shares of company stock worth $1,889,514. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a research report on Friday, January 31st. Cantor Fitzgerald restated an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, 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 report on Thursday, January 30th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $515.04.

About Vertex Pharmaceuticals

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.