Spinnaker Trust Has $497,000 Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Spinnaker Trust raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,235 shares of the pharmaceutical company’s stock after buying an additional 25 shares during the quarter. Spinnaker Trust’s holdings in Vertex Pharmaceuticals were worth $497,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in VRTX. Edgewood Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $435,899,000. Jennison Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after acquiring an additional 851,054 shares in the last quarter. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after buying an additional 704,421 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock worth $338,136,000 after buying an additional 528,029 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Scotiabank upped their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $505.57.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $459.00 on Friday. The firm has a market capitalization of $118.21 billion, a P/E ratio of -230.65, a P/E/G ratio of 1.80 and a beta of 0.41. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $435.69 and its two-hundred day simple moving average is $461.52. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company 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.