Acadian Asset Management LLC Decreases Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Acadian Asset Management LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,834 shares of the pharmaceutical company’s stock after selling 697 shares during the period. Acadian Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $7,443,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $25,000. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $27,000. Arlington Trust Co LLC increased its position in shares of Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 33 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $28,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $30,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

VRTX traded up $3.00 during trading on Monday, reaching $494.57. The company’s stock had a trading volume of 521,828 shares, compared to its average volume of 1,213,828. The firm has a fifty day simple moving average of $468.52 and a two-hundred day simple moving average of $434.91. The company has a market cap of $127.62 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.54 and a beta of 0.39. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $498.77.

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

Wall Street Analysts Forecast Growth

VRTX has been the topic of several research reports. HC Wainwright upped their target price on Vertex Pharmaceuticals from $462.00 to $500.00 and gave the company a “buy” rating in a research report on Friday. Cantor Fitzgerald increased their price target on Vertex Pharmaceuticals from $440.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target on the stock in a research report on Thursday, April 11th. Wells Fargo & Company increased their price target on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Finally, Piper Sandler increased their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $458.50.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 7,073 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 in the company, valued at approximately $17,920,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction on 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 transaction, the director now owns 40,000 shares in the company, valued at $17,920,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Reshma Kewalramani sold 1,565 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the transaction, the chief executive officer now owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The disclosure for this sale can be found here. Insiders sold 30,646 shares of company stock worth $14,169,923 in the last 90 days. Insiders own 0.20% of the company’s stock.

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.