Teacher Retirement System of Texas Sells 3,725 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Teacher Retirement System of Texas cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,648 shares of the pharmaceutical company’s stock after selling 3,725 shares during the period. Teacher Retirement System of Texas’ holdings in Vertex Pharmaceuticals were worth $46,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in VRTX. Chesapeake Asset Management LLC grew its stake in shares of Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Access Investment Management LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth $27,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Total Investment Management Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth about $33,000. Finally, Financial Network Wealth Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 29 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $467.35 on Friday. The stock has a market capitalization of $118.58 billion, a PE ratio of 32.96 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68. The stock has a 50 day moving average price of $448.45 and a two-hundred day moving average price of $427.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the firm earned $4.38 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total value of $2,137,455.00. Following the transaction, the executive vice president owned 42,293 shares of the company’s stock, valued at approximately $20,088,752.07. This trade represents a 9.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman directly owned 24,026 shares of the company’s stock, valued at $10,792,479.20. This represents a 72.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 165,105 shares of company stock valued at $73,858,523. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VRTX. Sanford C. Bernstein upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, January 12th. Barclays raised their price target on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Stifel Nicolaus decreased their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Morgan Stanley set a $564.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, December 5th. Finally, Wells Fargo & Company increased their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $510.35.

Vertex Pharmaceuticals Profile

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.