Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 363,130 shares of the pharmaceutical company’s stock after selling 6,620 shares during the quarter. Royal London Asset Management Ltd. owned about 0.14% of Vertex Pharmaceuticals worth $168,885,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of VRTX. Groesbeck Investment Management Corp NJ raised its position in Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares in the last quarter. Mutual Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. lifted its position in Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after buying an additional 22 shares in the last quarter. Drive Wealth Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after acquiring an additional 22 shares in the last quarter. Finally, Daymark Wealth Partners LLC increased its position in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.5 %

VRTX opened at $463.98 on Thursday. The firm’s 50-day simple moving average is $472.91 and its 200-day simple moving average is $475.25. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $348.46 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the firm earned $3.67 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. HC Wainwright restated a “buy” rating and set a $600.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. dropped their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $504.38.

Vertex Pharmaceuticals Company 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.