Two Sigma Advisers LP Reduces Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Two Sigma Advisers LP lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 89.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,200 shares of the pharmaceutical company's stock after selling 26,200 shares during the period. Two Sigma Advisers LP's holdings in Vertex Pharmaceuticals were worth $1,289,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VRTX. Truvestments Capital LLC raised its stake in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares during the last quarter. Spinnaker Trust boosted its holdings in Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock worth $497,000 after purchasing an additional 25 shares during the last quarter. Strategic Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after acquiring an additional 25 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock valued at $1,451,000 after buying an additional 25 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 2.6% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 1,138 shares of the pharmaceutical company's stock valued at $458,000 after acquiring an additional 29 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded up $3.38 during midday trading on Monday, reaching $445.43. 1,178,998 shares of the company traded hands, compared to its average volume of 1,649,082. The firm's fifty day moving average price is $469.67 and its two-hundred day moving average price is $460.75. The company has a quick ratio of 2.35, a current ratio of 2.69 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. The firm has a market capitalization of $114.39 billion, a price-to-earnings ratio of -202.47, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51.

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

Analysts Set New Price Targets

Several equities analysts recently commented on VRTX shares. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Wolfe Research downgraded Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. raised their price objective on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Leerink Partners reaffirmed a "market perform" rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $515.04.

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.