CIBC Private Wealth Group LLC Reduces Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CIBC Private Wealth Group LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.5% during the fourth quarter, Holdings Channel reports. The firm owned 6,054 shares of the pharmaceutical company’s stock after selling 424 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Vertex Pharmaceuticals were worth $2,495,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VRTX. Benjamin Edwards Inc. increased its holdings in Vertex Pharmaceuticals by 4,913.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,668 shares of the pharmaceutical company’s stock valued at $3,101,000 after acquiring an additional 6,535 shares in the last quarter. Hilltop Holdings Inc. grew its position in shares of Vertex Pharmaceuticals by 359.5% in the third quarter. Hilltop Holdings Inc. now owns 3,143 shares of the pharmaceutical company’s stock valued at $1,462,000 after purchasing an additional 2,459 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 7.6% during the 3rd quarter. HighTower Advisors LLC now owns 57,242 shares of the pharmaceutical company’s stock worth $26,494,000 after purchasing an additional 4,048 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Vertex Pharmaceuticals by 53.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,109 shares of the pharmaceutical company’s stock worth $2,376,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Ingalls & Snyder LLC lifted its stake in Vertex Pharmaceuticals by 6.8% in the 3rd quarter. Ingalls & Snyder LLC now owns 990 shares of the pharmaceutical company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.3 %

Shares of VRTX opened at $483.49 on Thursday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The stock’s 50-day moving average is $479.96 and its two-hundred day moving average is $463.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock has a market cap of $124.16 billion, a PE ratio of -219.77, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS 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%. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, 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 research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $509.17.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,315 shares of company stock valued at $2,121,012. Corporate insiders own 0.20% of the company’s stock.

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.