Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,469 shares of the pharmaceutical company’s stock after selling 9,172 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Vertex Pharmaceuticals were worth $30,143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Vertex Pharmaceuticals by 1.4% in the third quarter. Amalgamated Bank now owns 56,514 shares of the pharmaceutical company’s stock valued at $22,133,000 after buying an additional 779 shares during the last quarter. Nippon Life Global Investors Americas Inc. purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $1,108,000. Stenger Family Office LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $4,505,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Vertex Pharmaceuticals by 62.0% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,057 shares of the pharmaceutical company’s stock worth $806,000 after purchasing an additional 787 shares during the period. Finally, Sigma Investment Counselors Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 9.0% during the third quarter. Sigma Investment Counselors Inc. now owns 10,139 shares of the pharmaceutical company’s stock worth $3,971,000 after purchasing an additional 840 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

VRTX opened at $440.31 on Wednesday. The stock has a market capitalization of $111.71 billion, a PE ratio of 31.05 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68. The firm’s fifty day moving average price is $447.25 and its 200 day moving average price is $426.90.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.38 EPS. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the completion of the sale, the executive vice president owned 42,293 shares in the company, valued at $20,088,752.07. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the transaction, the chairman owned 24,026 shares in the company, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 165,105 shares of company stock worth $73,858,523 over the last ninety days. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley set a $564.00 target price on Vertex Pharmaceuticals in a research note on Friday, December 5th. Royal Bank Of Canada cut their price objective on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Citigroup increased their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Wells Fargo & Company increased their target price on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Finally, Leerink Partnrs upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $503.80.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.