Tobam Lowers Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tobam decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.3% in the 4th quarter, Holdings Channel reports. The firm owned 364 shares of the pharmaceutical company’s stock after selling 117 shares during the period. Tobam’s holdings in Vertex Pharmaceuticals were worth $147,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Vertex Pharmaceuticals by 4.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,669 shares of the pharmaceutical company’s stock worth $18,391,000 after buying an additional 2,036 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth $8,109,000. Telos Capital Management Inc. increased its stake in Vertex Pharmaceuticals by 10.0% in the fourth quarter. Telos Capital Management Inc. now owns 17,627 shares of the pharmaceutical company’s stock valued at $7,098,000 after acquiring an additional 1,605 shares during the last quarter. McHugh Group LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $201,000. Finally, Bleakley Financial Group LLC lifted its stake in Vertex Pharmaceuticals by 11.8% during the fourth quarter. Bleakley Financial Group LLC now owns 8,475 shares of the pharmaceutical company’s stock worth $3,413,000 after purchasing an additional 896 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VRTX shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. BMO Capital Markets lowered their price objective on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the company from $500.00 to $550.00 in a report on Monday, December 9th. Finally, HC Wainwright lifted their target price on shares of Vertex Pharmaceuticals from $535.00 to $550.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $502.58.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $469.32 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a 50-day simple moving average of $435.84 and a two-hundred day simple moving average of $462.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

About Vertex Pharmaceuticals

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.