22,861 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,861 shares of the pharmaceutical company's stock, valued at approximately $9,206,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its holdings in Vertex Pharmaceuticals by 62.7% during the third quarter. OneDigital Investment Advisors LLC now owns 2,817 shares of the pharmaceutical company's stock worth $1,310,000 after acquiring an additional 1,086 shares during the period. Claro Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 24.1% in the third quarter. Claro Advisors LLC now owns 2,425 shares of the pharmaceutical company's stock worth $1,128,000 after acquiring an additional 471 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Vertex Pharmaceuticals by 3,856.6% in the third quarter. Quest Partners LLC now owns 3,284 shares of the pharmaceutical company's stock worth $1,527,000 after acquiring an additional 3,201 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in Vertex Pharmaceuticals by 1.1% during the third quarter. Meeder Advisory Services Inc. now owns 5,634 shares of the pharmaceutical company's stock worth $2,620,000 after buying an additional 62 shares in the last quarter. Finally, Joseph Group Capital Management lifted its position in Vertex Pharmaceuticals by 17.7% during the third quarter. Joseph Group Capital Management now owns 5,672 shares of the pharmaceutical company's stock worth $2,638,000 after buying an additional 855 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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Vertex Pharmaceuticals Trading Down 1.4 %

VRTX stock traded down $6.98 during midday trading on Friday, reaching $503.20. The company's stock had a trading volume of 2,280,400 shares, compared to its average volume of 1,219,471. The business's 50-day simple moving average is $467.89 and its 200-day simple moving average is $462.69. The stock has a market cap of $129.22 billion, a PE ratio of -228.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 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%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada lifted their target price on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Piper Sandler cut their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Wells Fargo & Company downgraded Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective on the stock. in a report on Thursday, January 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price objective for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $506.70.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the sale, the executive vice president now owns 64,021 shares of the company's stock, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,315 shares of company stock valued at $2,121,012. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Company 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.