Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 672,438 shares of the pharmaceutical company’s stock after selling 82,086 shares during the period. Franklin Resources Inc.’s holdings in Vertex Pharmaceuticals were worth $273,608,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sherbrooke Park Advisers LLC increased its stake in Vertex Pharmaceuticals by 65.3% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 2,645 shares of the pharmaceutical company’s stock worth $920,000 after purchasing an additional 1,045 shares in the last quarter. Telos Capital Management Inc. grew its position in Vertex Pharmaceuticals by 1.6% in the fourth quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock valued at $6,133,000 after acquiring an additional 237 shares during the period. Morgan Stanley grew its position in Vertex Pharmaceuticals by 3.2% in the third quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock valued at $998,050,000 after acquiring an additional 89,217 shares during the period. ARK Investment Management LLC grew its position in Vertex Pharmaceuticals by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 124,197 shares of the pharmaceutical company’s stock valued at $50,535,000 after acquiring an additional 8,866 shares during the period. Finally, Grey Street Capital LLC grew its position in Vertex Pharmaceuticals by 31.6% in the fourth quarter. Grey Street Capital LLC now owns 36,565 shares of the pharmaceutical company’s stock valued at $14,878,000 after acquiring an additional 8,785 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares in the company, valued at approximately $23,755,762.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded up $4.62 during mid-day trading on Wednesday, hitting $446.62. 193,954 shares of the stock were exchanged, compared to its average volume of 1,203,969. The stock has a market capitalization of $115.25 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 2.13 and a beta of 0.39. The firm’s 50-day simple moving average is $410.97 and its 200 day simple moving average is $405.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $320.01 and a fifty-two week high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping 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 business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm posted $2.67 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank of Canada upped their price target on Vertex Pharmaceuticals from $417.00 to $424.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 7th. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Truist Financial upped their price target on Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Robert W. Baird lowered Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 target price on the stock. in a research note on Wednesday, January 31st. Finally, Maxim Group downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $432.18.

Vertex Pharmaceuticals 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.