HighTower Advisors LLC Sells 12,332 Shares of Vertex Pharmaceuticals Incorporated $VRTX

HighTower Advisors LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 21.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,015 shares of the pharmaceutical company’s stock after selling 12,332 shares during the quarter. HighTower Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $17,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey lifted its stake in Vertex Pharmaceuticals by 3.7% during the 2nd 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 period. Bailard Inc. raised its holdings in shares of Vertex Pharmaceuticals by 0.5% during the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after purchasing an additional 200 shares during the last quarter. Leuthold Group LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $5,030,000. Advisory Resource Group purchased a new stake in Vertex Pharmaceuticals in the third quarter worth approximately $1,286,000. Finally, Generali Asset Management SPA SGR grew its position in Vertex Pharmaceuticals by 41.8% in the 3rd quarter. Generali Asset Management SPA SGR now owns 23,569 shares of the pharmaceutical company’s stock worth $9,231,000 after purchasing an additional 6,942 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.2%

NASDAQ VRTX opened at $469.27 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68. The company has a market capitalization of $119.21 billion, a P/E ratio of 30.61 and a beta of 0.30. The stock’s 50-day moving average price is $462.76 and its 200-day moving average price is $428.12.

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

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Jonathan Biller sold 1,925 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total transaction of $886,327.75. Following the sale, the executive vice president directly owned 20,819 shares in the company, valued at $9,585,692.17. This trade represents a 8.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark E. Bunnage sold 2,021 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total transaction of $930,529.03. Following the completion of the transaction, the executive vice president directly owned 12,914 shares of the company’s stock, valued at $5,945,993.02. This represents a 13.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 100,852 shares of company stock valued at $45,787,299. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VRTX shares. Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Wells Fargo & Company raised their target price on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $577.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Finally, Scotiabank increased their price objective on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $542.00.

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.