111 Capital Lowers Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

111 Capital trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 33.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,892 shares of the pharmaceutical company’s stock after selling 1,471 shares during the quarter. 111 Capital’s holdings in Vertex Pharmaceuticals were worth $1,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $29,000. IMG Wealth Management Inc. grew its stake in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 50 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Ares Financial Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $33,000. Finally, Archer Investment Corp boosted its stake in shares of Vertex Pharmaceuticals by 89.7% in the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director owned 4,924 shares of the company’s stock, valued at $2,086,446.52. The trade was a 6.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the sale, the chief marketing officer directly owned 26,088 shares in the company, valued at $11,739,600. The trade was a 21.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 11,717 shares of company stock valued at $5,309,945. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.2%

Shares of NASDAQ VRTX opened at $446.83 on Friday. The firm has a market cap of $113.41 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.30. The business has a 50 day moving average price of $437.33 and a two-hundred day moving average price of $451.81. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.06 EPS. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays upped their target price on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Scotiabank upped their price objective on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Truist Financial assumed coverage on Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price objective on the stock. HC Wainwright increased their target price on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings upgraded Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $555.91.

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.