ARK Investment Management LLC Trims Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

ARK Investment Management LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 50.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,350 shares of the pharmaceutical company’s stock after selling 25,749 shares during the quarter. ARK Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $10,209,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Mutual Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares during the period. Dunhill Financial LLC lifted its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Simon Quick Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 1.1% during the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock worth $900,000 after purchasing an additional 24 shares during the period. Spinnaker Trust lifted its stake in shares of Vertex Pharmaceuticals by 2.1% during the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock worth $497,000 after purchasing an additional 25 shares during the period. Finally, Strategic Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.6% during the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock worth $1,807,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.3 %

Shares of Vertex Pharmaceuticals stock opened at $480.35 on Wednesday. The business has a 50-day moving average of $436.55 and a 200-day moving average of $460.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The company has a market capitalization of $123.35 billion, a PE ratio of -218.34, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VRTX shares. Barclays increased their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Bank of America cut their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus increased their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Finally, Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the stock from $500.00 to $550.00 in a research report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Profile

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.