Clearbridge Investments LLC Sells 121,197 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Clearbridge Investments LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,850,858 shares of the pharmaceutical company’s stock after selling 121,197 shares during the quarter. Clearbridge Investments LLC’s holdings in Vertex Pharmaceuticals were worth $745,340,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of VRTX. D.A. Davidson & CO. lifted its stake in Vertex Pharmaceuticals by 12.6% in the third quarter. D.A. Davidson & CO. now owns 5,475 shares of the pharmaceutical company’s stock valued at $2,546,000 after acquiring an additional 611 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Vertex Pharmaceuticals by 14.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,244 shares of the pharmaceutical company’s stock valued at $5,229,000 after purchasing an additional 1,400 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Vertex Pharmaceuticals by 2.0% during the third quarter. Hantz Financial Services Inc. now owns 3,544 shares of the pharmaceutical company’s stock worth $1,648,000 after purchasing an additional 69 shares during the period. Icon Wealth Advisors LLC increased its position in Vertex Pharmaceuticals by 3.6% during the third quarter. Icon Wealth Advisors LLC now owns 2,403 shares of the pharmaceutical company’s stock worth $1,118,000 after buying an additional 83 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Vertex Pharmaceuticals by 2.2% in the third quarter. Captrust Financial Advisors now owns 14,409 shares of the pharmaceutical company’s stock valued at $6,701,000 after buying an additional 307 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ourania Tatsis sold 530 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the sale, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at $27,825,928.26. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock valued at $2,121,012 over the last 90 days. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $492.69 on Friday. The company’s 50 day simple moving average is $476.45 and its two-hundred day simple moving average is $463.71. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock has a market capitalization of $126.52 billion, a PE ratio of -223.95, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a research report on Thursday, January 30th. Barclays lifted their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Piper Sandler decreased their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

About Vertex Pharmaceuticals

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.