Hancock Whitney Corp Lowers Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hancock Whitney Corp trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,527 shares of the pharmaceutical company's stock after selling 1,181 shares during the quarter. Hancock Whitney Corp's holdings in Vertex Pharmaceuticals were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. ABC Arbitrage SA bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $1,510,000. Czech National Bank raised its stake in Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock worth $22,486,000 after acquiring an additional 3,260 shares during the period. Highview Capital Management LLC DE raised its stake in Vertex Pharmaceuticals by 1.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock valued at $2,324,000 after purchasing an additional 102 shares during the period. Davidson Investment Advisors boosted its holdings in shares of Vertex Pharmaceuticals by 26.0% during the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock valued at $24,630,000 after purchasing an additional 12,631 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Vertex Pharmaceuticals by 75.5% in the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock worth $994,000 after buying an additional 1,062 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. The trade was 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. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded up $0.89 during mid-day trading on Friday, hitting $499.75. 761,291 shares of the company's stock traded hands, compared to its average volume of 1,338,117. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a market cap of $128.47 billion, a price-to-earnings ratio of -227.08, a P/E/G ratio of 2.11 and a beta of 0.50. The firm has a 50 day simple moving average of $491.59 and a two-hundred day simple moving average of $467.04.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Scotiabank increased their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, April 22nd. Piper Sandler lowered their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Finally, Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price target for the company. in a research report on Thursday, January 30th. 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $514.91.

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.