STF Management LP Lowers Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• STF Management LP cut its Vertex Pharmaceuticals stake by 62.5% in the fourth quarter, selling 2,492 shares and ending with 1,494 shares valued at about $677,000.
• Vertex reported strong quarterly results, posting EPS of $4.47 versus expectations of $4.24, while revenue of $2.99 billion matched estimates and rose 8.3% year over year.
• Analyst sentiment remains constructive, with Vertex carrying an average “Moderate Buy” rating and a consensus price target of $555.17, even as some firms adjusted targets and ratings.

STF Management LP decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 62.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494 shares of the pharmaceutical company's stock after selling 2,492 shares during the quarter. STF Management LP's holdings in Vertex Pharmaceuticals were worth $677,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Earned Wealth Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 3.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company's stock worth $295,000 after acquiring an additional 21 shares during the period. Confluence Wealth Services Inc. boosted its stake in shares of Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company's stock worth $247,000 after acquiring an additional 21 shares during the period. Childress Capital Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company's stock worth $331,000 after acquiring an additional 22 shares during the period. Central Pacific Bank Trust Division boosted its stake in shares of Vertex Pharmaceuticals by 0.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company's stock worth $2,279,000 after acquiring an additional 24 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 28.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company's stock worth $52,000 after acquiring an additional 25 shares during the period. Institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

VRTX has been the subject of a number of recent analyst reports. Canaccord Genuity Group dropped their price objective on Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating for the company in a research note on Tuesday, May 5th. Barclays upped their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Stifel Nicolaus upped their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a "hold" rating in a research report on Friday, February 13th. Scotiabank upped their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Finally, HC Wainwright upped their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $555.17.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $436.95 on Friday. The firm has a market capitalization of $110.90 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.87 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92. The business has a 50 day simple moving average of $445.56 and a 200-day simple moving average of $450.40.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $4.06 EPS. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Kristen Ambrose sold 223 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $108,456.05. Following the completion of the sale, the chief accounting officer directly owned 6,981 shares of the company's stock, valued at $3,395,209.35. This trade represents a 3.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Carmen Bozic sold 6,988 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the sale, the chief marketing officer directly owned 26,088 shares of the company's stock, valued at $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 79,802 shares of company stock worth $37,402,568. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals 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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