Greenwood Capital Associates LLC Sells 669 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Greenwood Capital Associates LLC decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,524 shares of the pharmaceutical company’s stock after selling 669 shares during the quarter. Vertex Pharmaceuticals accounts for about 1.2% of Greenwood Capital Associates LLC’s portfolio, making the stock its 16th largest holding. Greenwood Capital Associates LLC’s holdings in Vertex Pharmaceuticals were worth $9,545,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth $31,000. Finally, Founders Capital Management increased its position in shares of Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Canaccord Genuity Group upped their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Scotiabank assumed coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 price target on the stock. Finally, Morgan Stanley lifted their target price on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $492.50.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $472.80 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The stock’s fifty day simple moving average is $474.34 and its two-hundred day simple moving average is $466.02. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $510.64.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,710 shares of company stock valued at $3,298,206 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

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.