Sapient Capital LLC Reduces Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Sapient Capital LLC trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,311 shares of the pharmaceutical company’s stock after selling 1,999 shares during the quarter. Sapient Capital LLC’s holdings in Vertex Pharmaceuticals were worth $13,555,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Greenwood Capital Associates LLC raised its position in Vertex Pharmaceuticals by 24.4% during the 3rd quarter. Greenwood Capital Associates LLC now owns 12,812 shares of the pharmaceutical company’s stock worth $5,018,000 after buying an additional 2,514 shares during the last quarter. Weatherly Asset Management L. P. purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth $600,000. SWS Partners lifted its position in Vertex Pharmaceuticals by 1.5% during the third quarter. SWS Partners now owns 2,518 shares of the pharmaceutical company’s stock valued at $986,000 after purchasing an additional 36 shares during the period. City State Bank boosted its holdings in Vertex Pharmaceuticals by 45.5% in the third quarter. City State Bank now owns 160 shares of the pharmaceutical company’s stock valued at $63,000 after purchasing an additional 50 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter valued at $210,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In other news, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This trade represents a 27.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 151,073 shares of company stock worth $67,326,816. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.0%

Shares of VRTX opened at $462.90 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The stock’s 50 day moving average is $435.77 and its two-hundred day moving average is $426.37. The firm has a market cap of $117.45 billion, a P/E ratio of 32.64 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the company posted $4.38 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRTX. JPMorgan Chase & Co. boosted their price objective on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Barclays boosted their price target on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Royal Bank Of Canada lowered their price objective on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. UBS Group raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a report on Thursday, December 4th. Finally, Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $458.00 to $456.00 in a research note on Thursday, September 25th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $498.42.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.