Mission Wealth Management LP Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mission Wealth Management LP cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,052 shares of the pharmaceutical company’s stock after selling 575 shares during the period. Mission Wealth Management LP’s holdings in Vertex Pharmaceuticals were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC lifted its stake in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals during the third quarter worth about $33,000. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Truvestments Capital LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at about $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $39,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $483.31 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a market cap of $124.11 billion, a price-to-earnings ratio of -219.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company’s 50-day moving average is $441.95 and its two-hundred day moving average is $461.06. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

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

Analyst Ratings Changes

Several research firms have recently commented on VRTX. Citigroup began coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. Truist Financial increased their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Scotiabank raised their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $506.70.

Insiders Place Their Bets

In related news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,084 shares of company stock valued at $505,512 in the last quarter. 0.20% of the stock is currently owned by company insiders.

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.