First Citizens Bank & Trust Co. lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,450 shares of the pharmaceutical company’s stock after selling 484 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Vertex Pharmaceuticals were worth $3,415,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in VRTX. State of Tennessee Treasury Department boosted its stake in Vertex Pharmaceuticals by 83.4% in the third quarter. State of Tennessee Treasury Department now owns 464,762 shares of the pharmaceutical company’s stock valued at $126,471,000 after acquiring an additional 211,385 shares during the period. Swiss National Bank increased its holdings in shares of Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Swiss National Bank now owns 1,390,175 shares of the pharmaceutical company’s stock worth $378,294,000 after acquiring an additional 204,400 shares during the period. CIBC Private Wealth Group LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $54,581,000. DekaBank Deutsche Girozentrale boosted its stake in Vertex Pharmaceuticals by 310.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 255,408 shares of the pharmaceutical company’s stock valued at $68,266,000 after purchasing an additional 193,226 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $35,430,000. 92.17% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:VRTX opened at $227.10 on Thursday. The stock has a market cap of $59.05 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 1.25 and a beta of 0.79. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $197.47 and a fifty-two week high of $306.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.72 and a quick ratio of 3.60. The stock’s 50-day moving average is $230.82 and its two-hundred day moving average is $251.89.
In other news, Director Bruce I. Sachs purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, November 10th. The stock was acquired at an average price of $217.36 per share, with a total value of $3,260,400.00. Following the purchase, the director now owns 18,035 shares in the company, valued at approximately $3,920,087.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stuart A. Arbuckle sold 1,553 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $211.92, for a total value of $329,111.76. Following the completion of the transaction, the executive vice president now owns 36,732 shares in the company, valued at approximately $7,784,245.44. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
Several equities analysts have recently issued reports on VRTX shares. BidaskClub downgraded Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, January 7th. Morgan Stanley decreased their price target on Vertex Pharmaceuticals from $281.00 to $249.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Daiwa Capital Markets started coverage on shares of Vertex Pharmaceuticals in a research note on Wednesday, December 30th. They set an “outperform” rating and a $250.00 price objective on the stock. Maxim Group reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, September 18th. Finally, Royal Bank of Canada raised shares of Vertex Pharmaceuticals from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $247.00 to $267.00 in a research note on Monday, November 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Vertex Pharmaceuticals has a consensus rating of “Buy” and an average price target of $289.66.
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 12 years of age or older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator, or CFTR, gene.
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