Atria Wealth Solutions Inc. Cuts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Atria Wealth Solutions Inc. cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 25.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,212 shares of the pharmaceutical company’s stock after selling 2,523 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Vertex Pharmaceuticals were worth $2,904,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC acquired a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $27,000. Dunhill Financial LLC boosted its holdings in Vertex Pharmaceuticals by 70.6% in the third 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 last quarter. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at approximately $33,000. Finally, Truvestments Capital LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $484.24 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $436.05 and its two-hundred day moving average price is $460.70. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The stock has a market cap of $124.35 billion, a PE ratio of -220.11, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41.

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 the consensus estimate 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%. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on VRTX shares. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Scotiabank boosted their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Piper Sandler reduced their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $505.61.

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.