Mutual of America Capital Management LLC Reduces Position in Vertex Pharmaceuticals Incorporated $VRTX

Mutual of America Capital Management LLC reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 27,746 shares of the pharmaceutical company’s stock after selling 1,660 shares during the period. Mutual of America Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $10,866,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Lee Johnson Capital Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $721,000. Police & Firemen s Retirement System of New Jersey lifted its position in Vertex Pharmaceuticals by 3.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after acquiring an additional 1,393 shares during the last quarter. Bailard Inc. lifted its position in Vertex Pharmaceuticals by 0.5% in the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after acquiring an additional 200 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $10,059,000. Finally, Moody Lynn & Lieberson LLC increased its position in shares of Vertex Pharmaceuticals by 1.4% during the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock worth $25,856,000 after purchasing an additional 822 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the sale, the executive vice president directly owned 42,293 shares of the company’s stock, valued at $20,088,752.07. This trade represents a 9.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the transaction, the chairman directly owned 24,026 shares in the company, valued at $10,792,479.20. This represents a 72.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 165,105 shares of company stock valued at $73,858,523. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $476.84 on Tuesday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The company has a market cap of $120.98 billion, a P/E ratio of 33.63 and a beta of 0.31. The firm has a fifty day moving average of $449.93 and a two-hundred day moving average of $426.83.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank started coverage on Vertex Pharmaceuticals in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 target price for the company. Evercore ISI raised their target price on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday. Wolfe Research upgraded shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target for the company in a research report on Tuesday, January 6th. Stifel Nicolaus decreased their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Finally, Royal Bank Of Canada upgraded shares of Vertex Pharmaceuticals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $455.00 to $546.00 in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $512.58.

Vertex Pharmaceuticals Profile

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.