Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Covenant Asset Management LLC

Covenant Asset Management LLC decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% during the 4th quarter, Holdings Channel reports. The fund owned 12,627 shares of the pharmaceutical company’s stock after selling 137 shares during the quarter. Vertex Pharmaceuticals makes up 0.8% of Covenant Asset Management LLC’s portfolio, making the stock its 21st biggest holding. Covenant Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $5,085,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $27,000. Dunhill Financial LLC boosted its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In related news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 64,021 shares in the company, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research analyst reports. Bank of America lowered their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Piper Sandler cut their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. UBS Group raised their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lowered 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. Finally, Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $505.96.

Vertex Pharmaceuticals Trading Down 0.8 %

Shares of VRTX stock opened at $459.00 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a 50-day moving average price of $435.75 and a 200 day moving average price of $461.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current fiscal year.

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.