Private Harbour Investment Management & Counsel LLC Has $2.05 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Private Harbour Investment Management & Counsel LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,092 shares of the pharmaceutical company’s stock after selling 221 shares during the period. Vertex Pharmaceuticals makes up approximately 2.2% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 17th largest position. Private Harbour Investment Management & Counsel LLC’s holdings in Vertex Pharmaceuticals were worth $2,051,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Truvestments Capital LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $35,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on VRTX shares. 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 research note on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and lifted their target price for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. 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 research report on Thursday, January 30th. Finally, Truist Financial boosted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock valued at $2,121,012 over the last quarter. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

VRTX opened at $509.04 on Wednesday. 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 firm has a market cap of $130.72 billion, a price-to-earnings ratio of -231.38, a PEG ratio of 2.11 and a beta of 0.41. The stock’s 50-day moving average price is $471.81 and its 200 day moving average price is $463.08. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 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.