Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Lowered by Two Sigma Investments LP

Two Sigma Investments LP trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 79.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,160 shares of the pharmaceutical company's stock after selling 127,375 shares during the quarter. Two Sigma Investments LP's holdings in Vertex Pharmaceuticals were worth $13,354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $30,000. Golden State Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $37,000. Truvestments Capital LLC grew its stake in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after acquiring an additional 23 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $43,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company's 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 owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the sale, the executive vice president now directly owns 58,539 shares in the company, valued at approximately $27,825,928.26. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,813 shares of company stock worth $1,889,514. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent analyst reports. Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays boosted their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price target on the stock. in a research note on Thursday, January 30th. Finally, Truist Financial lifted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Thirteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $515.04.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded up $10.00 during trading on Tuesday, hitting $446.00. 2,048,282 shares of the company traded hands, compared to its average volume of 1,419,098. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The business's fifty day moving average is $474.73 and its 200-day moving average is $462.07. The stock has a market capitalization of $114.53 billion, a price-to-earnings ratio of -202.73, a PEG ratio of 2.11 and a beta of 0.51. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data 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 for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.76 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.