Tobam Sells 117 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tobam lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 364 shares of the pharmaceutical company’s stock after selling 117 shares during the period. Tobam’s holdings in Vertex Pharmaceuticals were worth $147,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Vertex Pharmaceuticals by 0.8% in the third quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after purchasing an additional 90,173 shares in the last quarter. Jennison Associates LLC raised its position in Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after buying an additional 851,054 shares during the last quarter. Wellington Management Group LLP lifted its stake in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after acquiring an additional 704,421 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Vertex Pharmaceuticals by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after acquiring an additional 159,693 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Vertex Pharmaceuticals by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after acquiring an additional 100,114 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VRTX. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. HC Wainwright boosted their target price on Vertex Pharmaceuticals from $535.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Piper Sandler decreased their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. decreased their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $502.58.

Vertex Pharmaceuticals Stock Down 2.5 %

VRTX stock opened at $469.32 on Friday. The firm has a 50 day moving average of $435.84 and a 200-day moving average of $462.87. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

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.