Cullinan Associates Inc. Sells 1,500 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cullinan Associates Inc. lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,162 shares of the pharmaceutical company’s stock after selling 1,500 shares during the period. Vertex Pharmaceuticals makes up 1.4% of Cullinan Associates Inc.’s portfolio, making the stock its 16th biggest position. Cullinan Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $21,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Edgewood Management LLC raised its position in Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Vertex Pharmaceuticals by 18.1% in 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 purchasing an additional 851,054 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Vertex Pharmaceuticals by 17.2% in 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 purchasing an additional 704,421 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Vertex Pharmaceuticals by 169.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after purchasing an additional 528,029 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Vertex Pharmaceuticals by 74,015.5% during the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after buying an additional 324,188 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $470.37 on Tuesday. The firm has a 50-day moving average price of $434.55 and a 200-day moving average price of $462.75. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.67 earnings per share. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.93 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the subject of a number of analyst reports. Scotiabank raised their price target on Vertex Pharmaceuticals from $430.00 to $433.00 and gave the company a “sector perform” rating in a research note on Friday. UBS Group lifted their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target 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. Finally, Morgan Stanley lifted their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $502.58.

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.