Cibc World Markets Corp Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cibc World Markets Corp increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,339 shares of the pharmaceutical company's stock after acquiring an additional 5,665 shares during the period. Cibc World Markets Corp's holdings in Vertex Pharmaceuticals were worth $18,661,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. ABC Arbitrage SA acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,510,000. Czech National Bank grew its position in shares of Vertex Pharmaceuticals by 6.2% in the fourth quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock valued at $22,486,000 after purchasing an additional 3,260 shares during the period. Highview Capital Management LLC DE increased its stake in Vertex Pharmaceuticals by 1.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock worth $2,324,000 after buying an additional 102 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth approximately $662,000. Finally, Davidson Investment Advisors boosted its stake in Vertex Pharmaceuticals by 26.0% during the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock worth $24,630,000 after purchasing an additional 12,631 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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Vertex Pharmaceuticals Stock Down 1.4 %

Shares of NASDAQ:VRTX traded down $6.98 during trading on Friday, hitting $503.20. The company's stock had a trading volume of 2,280,118 shares, compared to its average volume of 1,218,792. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The business has a 50 day moving average price of $466.02 and a two-hundred day moving average price of $462.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The company has a market capitalization of $129.22 billion, a PE ratio of -228.73, a P/E/G ratio of 2.11 and a beta of 0.41.

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 (EPS) 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%. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares of the company's stock, valued at $30,805,286.70. This represents a 0.36 % 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 David Altshuler sold 3,231 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

VRTX has been the topic of several research reports. Stifel Nicolaus raised their price target on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a "hold" rating in a research note on Monday, December 16th. BMO Capital Markets set a $545.00 target price on Vertex Pharmaceuticals in a report on Friday, January 31st. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price target for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Wells Fargo & Company lowered Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective on the stock. in a research note on Thursday, January 30th. Finally, William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $506.70.

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.