ClariVest Asset Management LLC Has $1.95 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

ClariVest Asset Management LLC cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 70.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,672 shares of the pharmaceutical company’s stock after selling 10,900 shares during the quarter. ClariVest Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in shares of Vertex Pharmaceuticals by 21.3% in the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after purchasing an additional 3,824,103 shares during the period. Norges Bank bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,237,877,000. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 21.2% in the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after buying an additional 837,461 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Vertex Pharmaceuticals by 2,272.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company’s stock worth $176,946,000 after acquiring an additional 416,545 shares during the last quarter. Finally, abrdn plc raised its stake in Vertex Pharmaceuticals by 196.0% in the 4th quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock valued at $236,410,000 after acquiring an additional 384,730 shares during the period. 90.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 11th. Guggenheim upped their price target on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company raised their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Piper Sandler upped their target price on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Finally, Argus boosted their price target on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $452.57.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the sale, the director now directly owns 40,000 shares in the company, valued at approximately $17,920,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the transaction, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $17,920,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,646 shares of company stock worth $14,169,923. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.7 %

NASDAQ VRTX traded down $3.39 on Friday, reaching $488.74. The company had a trading volume of 839,838 shares, compared to its average volume of 1,089,124. The firm has a market cap of $126.12 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 2.52 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $340.20 and a fifty-two week high of $496.71. The business has a 50 day moving average of $461.03 and a two-hundred day moving average of $431.90.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the firm posted $2.67 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.16 EPS for the current 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.