Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Trimmed by Sei Investments Co.

Sei Investments Co. decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.8% during the second quarter, Holdings Channel.com reports. The firm owned 212,857 shares of the pharmaceutical company’s stock after selling 1,612 shares during the period. Sei Investments Co.’s holdings in Vertex Pharmaceuticals were worth $99,772,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in VRTX. University of Texas Texas AM Investment Managment Co. acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $25,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $29,000. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals in the first quarter worth $27,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $31,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter valued at $28,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares in the company, valued at $2,217,500. The disclosure for this sale can be found here. Insiders have sold a total of 34,047 shares of company stock valued at $16,843,806 over the last three months. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VRTX. Oppenheimer raised their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Finally, TD Cowen upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $486.36.

Vertex Pharmaceuticals Stock Down 2.7 %

VRTX opened at $464.92 on Friday. The business has a 50 day moving average of $482.66 and a 200-day moving average of $452.12. The stock has a market capitalization of $119.97 billion, a price-to-earnings ratio of 30.17 and a beta of 0.40. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.85 and a 1-year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned $3.53 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current 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.