CIBC Asset Management Inc Purchases 4,389 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CIBC Asset Management Inc raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,491 shares of the pharmaceutical company's stock after acquiring an additional 4,389 shares during the period. CIBC Asset Management Inc's holdings in Vertex Pharmaceuticals were worth $34,025,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. ABC Arbitrage SA acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $1,510,000. Czech National Bank raised its holdings in Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock valued at $22,486,000 after acquiring an additional 3,260 shares in the last quarter. Highview Capital Management LLC DE grew its stake in shares of Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock valued at $2,324,000 after purchasing an additional 102 shares during the period. Whalen Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $662,000. Finally, Concord Wealth Partners grew its stake in shares of Vertex Pharmaceuticals by 32.6% in the 4th quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company's stock valued at $1,413,000 after purchasing an additional 862 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Oppenheimer lowered Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their price objective for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Piper Sandler lowered their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Finally, Barclays increased their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $505.61.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Up 0.8 %

Shares of VRTX stock traded up $3.91 during trading hours on Friday, reaching $484.24. The company had a trading volume of 1,444,007 shares, compared to its average volume of 1,541,286. The company has a 50 day moving average of $436.05 and a 200 day moving average of $460.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The firm has a market cap of $124.35 billion, a price-to-earnings ratio of -220.11, a P/E/G ratio of 2.07 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current year.

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.