Prudential PLC Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Prudential PLC trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,518 shares of the pharmaceutical company’s stock after selling 3,769 shares during the period. Prudential PLC’s holdings in Vertex Pharmaceuticals were worth $10,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Dunhill Financial LLC raised its stake in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth $33,000. Sugar Maple Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $35,000. Finally, Golden State Wealth Management LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.9 %

Shares of VRTX opened at $474.62 on Friday. The company has a market capitalization of $121.88 billion, a PE ratio of -215.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a fifty day moving average of $481.54 and a two-hundred day moving average of $463.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,315 shares of company stock valued at $2,121,012. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a “sector perform” rating in a report on Tuesday. Scotiabank upped their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Barclays raised their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, StockNews.com upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Ten investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.17.

Vertex Pharmaceuticals 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.