Jacobi Capital Management LLC Trims Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Jacobi Capital Management LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.4% in the 4th quarter, HoldingsChannel reports. The firm owned 964 shares of the pharmaceutical company’s stock after selling 34 shares during the quarter. Jacobi Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of VRTX. Edgewood Management LLC raised its position in Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $435,899,000. Jennison Associates LLC raised its position in Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after acquiring an additional 851,054 shares in the last quarter. Wellington Management Group LLP raised its position in Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after acquiring an additional 704,421 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after acquiring an additional 528,029 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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 on Tuesday, February 11th. The stock was 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 $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,084 shares of company stock worth $505,512 in the last three months. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VRTX shares. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and lifted their price target for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Bank of America dropped their price objective on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a report on Thursday, January 30th. Oppenheimer lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

Vertex Pharmaceuticals Stock Up 1.1 %

Shares of NASDAQ:VRTX opened at $479.79 on Monday. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $440.39 and a two-hundred day moving average of $460.98. The stock has a market cap of $123.21 billion, a P/E ratio of -218.09, a PEG ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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 4.86% and a negative return on equity of 2.02%. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 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.