Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Trimmed by Angeles Wealth Management LLC

Angeles Wealth Management LLC cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,047 shares of the pharmaceutical company’s stock after selling 67 shares during the period. Angeles Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Czech National Bank boosted its stake in Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock worth $22,486,000 after purchasing an additional 3,260 shares during the period. Whalen Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter worth $662,000. Concord Wealth Partners grew its holdings in shares of Vertex Pharmaceuticals by 32.6% during the fourth quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after buying an additional 862 shares in the last quarter. Mizuho Securities USA LLC raised its position in Vertex Pharmaceuticals by 289.0% during the third quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after buying an additional 57,497 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Vertex Pharmaceuticals by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock worth $137,783,000 after acquiring an additional 55,739 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VRTX. Scotiabank upped their target price on Vertex Pharmaceuticals from $430.00 to $433.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. JPMorgan Chase & Co. cut their target price on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Piper Sandler lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $502.58.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $469.97 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a market capitalization of $121.03 billion, a P/E ratio of -236.17, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. The stock’s 50 day moving average price is $435.87 and its two-hundred day moving average price is $462.29. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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 1.91% and a negative net margin of 4.52%. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current year.

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.