Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Trimmed by ING Groep NV

ING Groep NV lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 91.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,784 shares of the pharmaceutical company’s stock after selling 48,754 shares during the period. ING Groep NV’s holdings in Vertex Pharmaceuticals were worth $1,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. Dunhill Financial LLC increased its holdings in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth approximately $33,000. Finally, Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $484.24 on Monday. The stock has a market capitalization of $124.35 billion, a PE ratio of -220.11, a P/E/G ratio of 2.11 and a beta of 0.41. The stock has a 50-day simple moving average of $436.05 and a 200 day simple moving average of $460.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates 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 anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. UBS Group increased their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Oppenheimer downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price target for the company from $500.00 to $550.00 in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

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.