Investment Management Corp of Ontario Has $6.97 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Investment Management Corp of Ontario trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,297 shares of the pharmaceutical company's stock after selling 6,288 shares during the period. Investment Management Corp of Ontario's holdings in Vertex Pharmaceuticals were worth $6,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of VRTX. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Sugar Maple Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $35,000. Golden State Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $37,000. Truvestments Capital LLC lifted its position in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after acquiring an additional 23 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in Vertex Pharmaceuticals by 108.2% in the 4th quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company's stock worth $41,000 after purchasing an additional 53 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on VRTX. Scotiabank cut their price target on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. BMO Capital Markets set a $545.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Bank of America increased their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Finally, Piper Sandler lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Thirteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $515.04.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $425.30 on Friday. 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 firm has a market cap of $109.22 billion, a price-to-earnings ratio of -193.32, a P/E/G ratio of 2.11 and a beta of 0.51. The stock's fifty day moving average price is $488.74 and its two-hundred day moving average price is $465.87. 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 released 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 business 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 revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.76 earnings per share. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 530 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the sale, the executive vice president now owns 58,539 shares of the company's stock, valued at $27,825,928.26. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were 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 approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

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.

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