State of Alaska Department of Revenue Has $14.92 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• State of Alaska Department of Revenue trimmed its stake in Vertex by 8.2% in Q4, holding 32,915 shares valued at approximately $14.92 million after selling 2,938 shares.
• Several analysts have raised ratings and price targets (e.g., Oppenheimer to $600, BofA to $598), leaving a consensus rating of "Moderate Buy" with a consensus target price of $555.
• Vertex reported Q4 EPS of $5.03 (missing by $0.02) on $3.19B revenue (+9.5% yoy), while insiders sold 80,431 shares (~$37.9M) in the last quarter amid ~90.96% institutional ownership.

State of Alaska Department of Revenue cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,915 shares of the pharmaceutical company's stock after selling 2,938 shares during the quarter. State of Alaska Department of Revenue's holdings in Vertex Pharmaceuticals were worth $14,922,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Chesapeake Asset Management LLC boosted its stake in Vertex Pharmaceuticals by 110.0% during the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company's stock worth $25,000 after acquiring an additional 33 shares in the last quarter. Colonial Trust Co SC boosted its stake in Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Total Investment Management Inc. bought a new position in Vertex Pharmaceuticals during the second quarter worth $33,000. Capital Advisors Ltd. LLC boosted its stake in Vertex Pharmaceuticals by 54.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 77 shares of the pharmaceutical company's stock worth $35,000 after acquiring an additional 27 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 50.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company's stock valued at $34,000 after purchasing an additional 29 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on VRTX shares. Oppenheimer raised their price target on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an "outperform" rating in a research report on Tuesday, March 10th. Citigroup raised their price target on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. Wolfe Research upgraded shares of Vertex Pharmaceuticals from a "peer perform" rating to an "outperform" rating and set a $548.00 price objective for the company in a report on Tuesday, January 6th. Bank of America raised their price objective on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Finally, Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $555.00.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $436.27 on Monday. The firm has a 50 day moving average of $464.16 and a 200-day moving average of $446.37. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $510.77. The firm has a market capitalization of $110.97 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing analysts' consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the business posted $3.98 earnings per share. Vertex Pharmaceuticals's revenue was up 9.5% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 4,910 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the completion of the transaction, the executive vice president owned 17,559 shares of the company's stock, valued at $8,562,646.35. The trade was a 21.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Amit Sachdev sold 58,613 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $468.83, for a total transaction of $27,479,532.79. Following the completion of the transaction, the executive vice president directly owned 58,934 shares of the company's stock, valued at approximately $27,630,027.22. This represents a 49.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 80,431 shares of company stock worth $37,875,167. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

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