Sowell Financial Services LLC Sells 1,198 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Sowell Financial Services LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,814 shares of the pharmaceutical company’s stock after selling 1,198 shares during the period. Sowell Financial Services LLC’s holdings in Vertex Pharmaceuticals were worth $1,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Central Pacific Bank Trust Division boosted its holdings in Vertex Pharmaceuticals by 0.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock worth $2,279,000 after acquiring an additional 24 shares in the last quarter. JFS Wealth Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 28.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock worth $52,000 after acquiring an additional 25 shares in the last quarter. Hohimer Wealth Management LLC boosted its holdings in Vertex Pharmaceuticals by 1.2% in the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock worth $945,000 after acquiring an additional 26 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Vertex Pharmaceuticals by 1.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock worth $565,000 after purchasing an additional 26 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of Vertex Pharmaceuticals by 5.5% during the third quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock worth $196,000 after purchasing an additional 26 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Jonathan Biller sold 1,925 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $886,327.75. Following the completion of the transaction, the executive vice president directly owned 20,819 shares of the company’s stock, valued at approximately $9,585,692.17. The trade was a 8.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Amit Sachdev sold 58,613 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $468.83, for a total value of $27,479,532.79. Following the completion of the transaction, the executive vice president directly owned 58,934 shares of the company’s stock, valued at $27,630,027.22. The trade was a 49.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,431 shares of company stock valued at $37,875,167 in the last three months. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup lifted their target price on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. UBS Group lifted their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $577.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Finally, Evercore lifted their target price on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $554.30.

Vertex Pharmaceuticals Trading Up 2.8%

Shares of NASDAQ:VRTX opened at $443.92 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $510.77. The company has a market capitalization of $112.77 billion, a PE ratio of 28.96, a PEG ratio of 1.88 and a beta of 0.36. The business has a 50 day moving average of $465.41 and a two-hundred day moving average of $445.04.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the firm posted $3.98 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.