Allspring Global Investments Holdings LLC Trims Stake in Vertex Pharmaceuticals Incorporated $VRTX

Allspring Global Investments Holdings LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,210 shares of the pharmaceutical company’s stock after selling 4,653 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Vertex Pharmaceuticals were worth $55,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of VRTX. Vanguard Group Inc. raised its holdings in shares of Vertex Pharmaceuticals by 1.0% in the third quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock worth $9,484,293,000 after buying an additional 243,088 shares during the period. Capital Research Global Investors increased its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock worth $6,482,978,000 after purchasing an additional 444,990 shares during the period. Capital International Investors lifted its position in shares of Vertex Pharmaceuticals by 77.9% during the third quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock worth $1,836,550,000 after purchasing an additional 2,053,156 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Vertex Pharmaceuticals by 3.3% during the third quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company’s stock worth $1,771,226,000 after purchasing an additional 144,266 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Vertex Pharmaceuticals by 4.4% during the third quarter. Ameriprise Financial Inc. now owns 2,276,927 shares of the pharmaceutical company’s stock valued at $891,744,000 after purchasing an additional 95,565 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.2%

VRTX opened at $447.26 on Thursday. The firm has a market cap of $113.62 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 1.91 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $510.77. The stock has a fifty day moving average price of $468.95 and a 200-day moving average price of $443.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the business earned $3.98 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Mark E. Bunnage sold 620 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $301,537.00. Following the completion of the transaction, the executive vice president owned 7,284 shares in the company, valued at $3,542,573.40. The trade was a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amit Sachdev sold 1,846 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $897,802.10. Following the sale, the executive vice president directly owned 55,570 shares of the company’s stock, valued at $27,026,469.50. The trade was a 3.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 93,485 shares of company stock valued at $43,967,586. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VRTX. Wells Fargo & Company upped their price target on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Barclays boosted their price objective on shares of Vertex Pharmaceuticals from $606.00 to $607.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. Finally, UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $554.30.

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.