Price T Rowe Associates Inc. MD Sells 77,310 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Price T Rowe Associates Inc. MD cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,690,700 shares of the pharmaceutical company's stock after selling 77,310 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.66% of Vertex Pharmaceuticals worth $680,846,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $1,374,948,000. Parnassus Investments LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $731,283,000. Capital World Investors lifted its stake in Vertex Pharmaceuticals by 5.7% in the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after buying an additional 1,514,993 shares during the period. Capital Research Global Investors boosted its holdings in shares of Vertex Pharmaceuticals by 15.8% during the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after buying an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC grew its position in shares of Vertex Pharmaceuticals by 91.2% during the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock worth $1,190,626,000 after buying an additional 1,410,238 shares during the period. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $2.48 during trading on Wednesday, hitting $505.98. 255,930 shares of the stock traded hands, compared to its average volume of 1,336,434. The stock has a market cap of $130.08 billion, a price-to-earnings ratio of -229.45, a PEG ratio of 2.11 and a beta of 0.50. 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 52 week low of $377.85 and a 52 week high of $519.88. The firm's fifty day moving average is $490.74 and its 200-day moving average is $466.65.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly 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%. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their price target for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Piper Sandler reduced their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $514.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, 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 value of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ourania Tatsis sold 530 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total value of $251,930.20. Following the completion of the sale, the executive vice president now directly owns 58,539 shares in the company, valued at approximately $27,825,928.26. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock valued at $2,121,012 in the last 90 days. Insiders own 0.20% of the company's stock.

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.