Hobbs Group Advisors LLC Trims Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hobbs Group Advisors LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,351 shares of the pharmaceutical company’s stock after selling 100 shares during the period. Hobbs Group Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,349,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its holdings in shares of Vertex Pharmaceuticals by 12.6% in the 3rd quarter. D.A. Davidson & CO. now owns 5,475 shares of the pharmaceutical company’s stock valued at $2,546,000 after buying an additional 611 shares during the period. Townsquare Capital LLC lifted its stake in shares of Vertex Pharmaceuticals by 31.6% in the 3rd quarter. Townsquare Capital LLC now owns 15,054 shares of the pharmaceutical company’s stock worth $7,001,000 after acquiring an additional 3,616 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Vertex Pharmaceuticals by 107.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 49,065 shares of the pharmaceutical company’s stock valued at $22,819,000 after purchasing an additional 25,375 shares in the last quarter. Fiduciary Trust Co boosted its stake in Vertex Pharmaceuticals by 22.2% during the third quarter. Fiduciary Trust Co now owns 12,013 shares of the pharmaceutical company’s stock valued at $5,587,000 after buying an additional 2,183 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Vertex Pharmaceuticals by 14.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,244 shares of the pharmaceutical company’s stock valued at $5,229,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 2.0 %

Shares of NASDAQ:VRTX opened at $492.69 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $126.52 billion, a PE ratio of -223.95, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm has a fifty day moving average price of $476.45 and a 200 day moving average price of $463.76.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their target price for the stock from $500.00 to $550.00 in a report on Monday, December 9th. JPMorgan Chase & Co. reduced their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Finally, Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their price objective for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ourania Tatsis sold 530 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the transaction, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock valued at $2,121,012 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Profile

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.