Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Reduced by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,701 shares of the pharmaceutical company’s stock after selling 2,160 shares during the period. Vertex Pharmaceuticals accounts for about 0.5% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 26th largest holding. Chevy Chase Trust Holdings LLC owned 0.17% of Vertex Pharmaceuticals worth $179,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth approximately $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth approximately $27,000. Dunhill Financial LLC grew its position in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth approximately $33,000. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VRTX. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price target on shares of Vertex Pharmaceuticals from $402.00 to $407.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Citigroup assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective on the stock. Finally, Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $505.96.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $462.58 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a fifty day simple moving average of $435.70 and a 200 day simple moving average of $461.79.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data 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 net margin of 4.52% and a negative return on equity of 1.91%. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals 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.