MWA Asset Management Sells 2,061 Shares of Vertex Pharmaceuticals Incorporated $VRTX

MWA Asset Management decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 39.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,198 shares of the pharmaceutical company’s stock after selling 2,061 shares during the period. MWA Asset Management’s holdings in Vertex Pharmaceuticals were worth $1,252,000 at the end of the most recent quarter.

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

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the transaction, the executive vice president owned 42,293 shares in the company, valued at $20,088,752.07. This trade represents a 9.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares in the company, valued at $10,792,479.20. The trade was a 72.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 165,105 shares of company stock worth $73,858,523 in the last three months. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.2%

Shares of VRTX opened at $469.90 on Friday. The stock has a market capitalization of $119.22 billion, a P/E ratio of 33.14 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The company has a 50 day moving average of $453.77 and a 200-day moving average of $427.54.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.38 earnings per share. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the topic of several research analyst reports. Royal Bank Of Canada raised Vertex Pharmaceuticals from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $455.00 to $546.00 in a research note on Thursday, January 22nd. Sanford C. Bernstein raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, January 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, January 21st. UBS Group increased their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wolfe Research upgraded shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price on the stock in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $522.68.

Vertex Pharmaceuticals Company Profile

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.