OFI Invest Asset Management Purchases New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

OFI Invest Asset Management bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,196 shares of the pharmaceutical company's stock, valued at approximately $2,410,000.

Several other institutional investors have also recently made changes to their positions in VRTX. Dunhill Financial LLC raised 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 valued at $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $33,000. Truvestments Capital LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,084 shares of company stock valued at $505,512 over the last three months. 0.20% of the stock is owned by company insiders.

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Vertex Pharmaceuticals Trading Up 0.8 %

Shares of VRTX traded up $4.10 during trading hours on Wednesday, hitting $492.44. The company had a trading volume of 330,162 shares, compared to its average volume of 1,464,541. 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. The stock's 50 day moving average price is $451.99 and its 200 day moving average price is $461.34. The firm has a market cap of $126.45 billion, a P/E ratio of -224.06, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts' consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on VRTX shares. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Bank of America decreased their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Scotiabank lifted their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. reduced their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a research report on Monday, December 23rd. Finally, BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $506.70.

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.