Lifeworks Advisors LLC Has $1.48 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Lifeworks Advisors LLC cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 68.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,684 shares of the pharmaceutical company’s stock after selling 8,169 shares during the period. Lifeworks Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,484,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. State Street Corp increased its position in Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock worth $5,495,501,000 after buying an additional 90,173 shares during the period. Jennison Associates LLC grew its stake 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 worth $2,581,373,000 after acquiring an additional 851,054 shares during the last quarter. Wellington Management Group LLP increased its position in Vertex Pharmaceuticals by 17.2% during 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 acquiring an additional 704,421 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Vertex Pharmaceuticals by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock valued at $1,351,385,000 after purchasing an additional 159,693 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Vertex Pharmaceuticals by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock valued at $1,170,506,000 after purchasing an additional 100,114 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 530 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 1,084 shares of company stock worth $505,512. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Up 0.5 %

NASDAQ VRTX opened at $488.29 on Friday. The stock’s 50 day simple moving average is $448.27 and its 200 day simple moving average is $461.50. 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 Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm has a market cap of $125.39 billion, a PE ratio of -221.95, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VRTX shares. Wells Fargo & Company downgraded 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 report on Thursday, January 30th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and boosted their price target for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Piper Sandler reduced their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Stifel Nicolaus lifted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Finally, Bank of America reduced their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.