Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 62.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,019 shares of the pharmaceutical company’s stock after selling 3,336 shares during the period. Fidelis Capital Partners LLC’s holdings in Vertex Pharmaceuticals were worth $791,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in VRTX. Chesapeake Asset Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 110.0% during the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares in the last quarter. Access Investment Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $29,000. Total Investment Management Inc. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $33,000. Finally, Financial Network Wealth Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 29 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total value of $2,137,455.00. Following the transaction, the executive vice president owned 42,293 shares of the company’s stock, valued at $20,088,752.07. This trade represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the transaction, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 165,105 shares of company stock worth $73,858,523 over the last quarter. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VRTX. Citigroup lifted their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Barclays raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $414.00 to $606.00 in a research note on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, January 21st. Scotiabank started coverage on Vertex Pharmaceuticals in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 target price on the stock. Finally, UBS Group raised their price objective on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $522.68.

Vertex Pharmaceuticals Trading Down 0.5%

VRTX stock opened at $475.68 on Friday. The firm has a market cap of $120.69 billion, a P/E ratio of 33.55 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68. The stock’s 50 day simple moving average is $452.91 and its 200 day simple moving average is $427.56.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the company posted $4.38 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.