Bryce Point Capital LLC Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bryce Point Capital LLC acquired a new position in 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 (SEC). The fund acquired 4,324 shares of the pharmaceutical company's stock, valued at approximately $1,741,000.

Other large investors have also added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 24 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Sugar Maple Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares of the company's stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on VRTX shares. JPMorgan Chase & Co. decreased their target price on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Scotiabank lifted their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and upped their target price for the company from $500.00 to $550.00 in a report on Monday, December 9th. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Finally, Piper Sandler lowered their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $509.17.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded down $9.39 during mid-day trading on Friday, hitting $474.62. 2,884,202 shares of the company's stock were exchanged, compared to its average volume of 1,294,315. The firm has a market cap of $121.88 billion, a price-to-earnings ratio of -215.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. 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 simple moving average is $481.54 and its 200-day simple moving average is $463.85.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (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, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.