First Trust Advisors LP Sells 382,246 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

First Trust Advisors LP cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 66.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,786 shares of the pharmaceutical company's stock after selling 382,246 shares during the period. First Trust Advisors LP owned 0.07% of Vertex Pharmaceuticals worth $77,635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Brown Lisle Cummings Inc. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. Sugar Maple Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $35,000. Golden State Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $37,000. 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. Finally, ORG Partners LLC raised its stake in shares of Vertex Pharmaceuticals by 108.2% during the fourth quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company's stock worth $41,000 after buying an additional 53 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.3 %

VRTX traded up $1.37 on Friday, hitting $493.84. 1,561,491 shares of the company were exchanged, compared to its average volume of 1,337,381. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a market cap of $126.81 billion, a PE ratio of -224.47, a PEG ratio of 2.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock's fifty day moving average is $489.78 and its 200-day moving average is $466.28.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares of the company's stock, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock valued at $2,121,012 over the last 90 days. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRTX. Bank of America boosted their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Truist Financial boosted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, April 22nd. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $514.91.

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.