Bailard Inc. Reduces Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bailard Inc. lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,415 shares of the pharmaceutical company’s stock after selling 1,102 shares during the period. Bailard Inc.’s holdings in Vertex Pharmaceuticals were worth $15,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ABC Arbitrage SA purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,510,000. Czech National Bank lifted its holdings in Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after acquiring an additional 3,260 shares during the period. Highview Capital Management LLC DE lifted its holdings in Vertex Pharmaceuticals by 1.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after acquiring an additional 102 shares during the period. Whalen Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals in the third quarter valued at approximately $662,000. Finally, Davidson Investment Advisors lifted its holdings in Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock valued at $24,630,000 after acquiring an additional 12,631 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.1 %

Shares of VRTX opened at $479.79 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The stock has a market capitalization of $123.21 billion, a price-to-earnings ratio of -218.09, a PEG ratio of 2.11 and a beta of 0.41. The stock has a 50 day moving average price of $440.39 and a 200 day moving average price of $461.05.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) 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%. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VRTX shares. Barclays boosted their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Morgan Stanley boosted their price target on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Piper Sandler decreased their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,084 shares of company stock worth $505,512 in the last three months. 0.20% of the stock is owned by corporate insiders.

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.