Nikko Asset Management Americas Inc. Sells 1,092 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Nikko Asset Management Americas Inc. decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,379 shares of the pharmaceutical company’s stock after selling 1,092 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Vertex Pharmaceuticals were worth $2,972,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ABC Arbitrage SA bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,510,000. Czech National Bank raised its holdings in Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after acquiring an additional 3,260 shares during the period. Highview Capital Management LLC DE lifted its position in shares of Vertex Pharmaceuticals by 1.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock worth $2,324,000 after acquiring an additional 102 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $662,000. Finally, Davidson Investment Advisors boosted its holdings in shares of Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after acquiring an additional 12,631 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VRTX shares. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price objective for the stock from $500.00 to $550.00 in a report on Monday, December 9th. HC Wainwright reiterated a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Finally, Stifel Nicolaus increased their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Up 1.8 %

Shares of NASDAQ VRTX opened at $513.76 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The firm has a 50-day moving average of $459.97 and a 200 day moving average of $461.84. The stock has a market cap of $131.93 billion, a P/E ratio of -233.53, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results 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%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.