Bellevue Group AG reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 668,750 shares of the pharmaceutical company’s stock after selling 67,640 shares during the quarter. Vertex Pharmaceuticals comprises 4.3% of Bellevue Group AG’s holdings, making the stock its 4th largest position. Bellevue Group AG owned 0.26% of Vertex Pharmaceuticals worth $279,544,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $25,000. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $27,000. Arlington Trust Co LLC boosted its position in shares of Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 33 shares during the period. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Finally, Baystate Wealth Management LLC increased its position in Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Trading Up 0.6 %
Shares of NASDAQ:VRTX traded up $3.00 on Friday, reaching $495.26. 774,126 shares of the company traded hands, compared to its average volume of 1,047,785. The stock has a market capitalization of $127.80 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The business’s 50-day simple moving average is $474.18 and its 200 day simple moving average is $437.50. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 52 week low of $340.20 and a 52 week high of $503.99.
Insider Buying and Selling
In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,350 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the sale, the executive vice president now owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Ourania Tatsis sold 2,350 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the transaction, the executive vice president now directly owns 53,523 shares of the company’s stock, valued at $23,502,484.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The disclosure for this sale can be found here. Insiders have sold a total of 48,128 shares of company stock valued at $22,839,005 over the last three months. 0.20% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research analysts have recently commented on VRTX shares. Wells Fargo & Company raised their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. TD Cowen upped their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler raised their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Guggenheim boosted their price target on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Cantor Fitzgerald raised their target price on shares of Vertex Pharmaceuticals from $440.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $460.30.
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.
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