J. Safra Sarasin Holding AG Reduces Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

J. Safra Sarasin Holding AG cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,896 shares of the pharmaceutical company's stock after selling 4,246 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Vertex Pharmaceuticals were worth $22,509,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VRTX. ABC Arbitrage SA bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $1,510,000. Czech National Bank raised its holdings in shares of Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock valued at $22,486,000 after purchasing an additional 3,260 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Vertex Pharmaceuticals by 1.8% in the fourth 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 last quarter. Davidson Investment Advisors lifted its position in shares of Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock worth $24,630,000 after purchasing an additional 12,631 shares in the last quarter. Finally, Jones Financial Companies Lllp grew 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 valued at $994,000 after acquiring an additional 1,062 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity

In other news, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were 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 SEC, which can be accessed through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction that occurred 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 owns 26,512 shares in the company, valued at approximately $13,256,000. This trade 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 in the last 90 days. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

VRTX has been the subject of a number of analyst reports. Bank of America lifted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 1st. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their target price for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Ten 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $514.91.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock traded up $1.37 during mid-day trading on Friday, hitting $493.84. 1,561,491 shares of the stock were exchanged, compared to its average volume of 1,334,761. The company has a market capitalization of $126.81 billion, a P/E ratio of -224.47, a P/E/G 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 company has a 50-day simple moving average of $489.78 and a 200 day simple moving average of $466.36. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

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 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%. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.