Huntington National Bank Has $15.46 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Huntington National Bank lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,386 shares of the pharmaceutical company’s stock after selling 843 shares during the period. Huntington National Bank’s holdings in Vertex Pharmaceuticals were worth $15,458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dunhill Financial LLC raised its holdings in shares of Vertex Pharmaceuticals by 70.6% during 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 period. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Down 0.3 %

Vertex Pharmaceuticals stock opened at $483.49 on Thursday. 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 company has a market capitalization of $124.16 billion, a P/E ratio of -219.77, a P/E/G ratio of 2.11 and a beta of 0.41. The firm has a 50 day moving average price of $479.96 and a 200-day moving average price of $463.81. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its 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, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRTX. StockNews.com upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. dropped their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price target on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $509.17.

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.