Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Associated Banc Corp

Associated Banc Corp cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,828 shares of the pharmaceutical company’s stock after selling 291 shares during the quarter. Associated Banc Corp’s holdings in Vertex Pharmaceuticals were worth $3,555,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Dunhill Financial LLC lifted its position in Vertex Pharmaceuticals by 70.6% during 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. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Truvestments Capital LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $35,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 530 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total value of $251,930.20. Following the completion of the transaction, the executive vice president now directly owns 58,539 shares in the company, valued at approximately $27,825,928.26. This represents a 0.90 % 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. Also, EVP David Altshuler sold 3,231 shares of the company’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 completion of the transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock valued at $2,121,012 over the last three months. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $504.77 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market cap of $129.62 billion, a price-to-earnings ratio of -229.44, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The business has a fifty day moving average of $457.74 and a 200-day moving average of $461.89. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays increased their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Stifel Nicolaus lifted their price target on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price target for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, Scotiabank lifted their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Ten 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $506.70.

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.