Clare Market Investments LLC Invests $600,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Clare Market Investments LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,490 shares of the pharmaceutical company's stock, valued at approximately $600,000.

A number of other institutional investors have also modified their holdings of VRTX. State Street Corp increased its position in shares of Vertex Pharmaceuticals by 0.8% during the third quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company's stock worth $5,495,501,000 after purchasing an additional 90,173 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after acquiring an additional 851,054 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock worth $2,231,858,000 after buying an additional 704,421 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Vertex Pharmaceuticals by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company's stock valued at $1,351,385,000 after purchasing an additional 159,693 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Vertex Pharmaceuticals by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company's stock worth $1,170,506,000 after buying an additional 100,114 shares during the period. 90.96% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business'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 completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,084 shares of company stock valued at $505,512 in the last three months. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Oppenheimer lowered Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Truist Financial increased their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Scotiabank boosted their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Ten investment 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $506.70.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded up $6.22 during trading hours on Wednesday, hitting $494.56. 674,403 shares of the company traded hands, compared to its average volume of 1,472,029. The firm has a market cap of $127.00 billion, a P/E ratio of -224.73, a P/E/G ratio of 2.11 and a beta of 0.41. 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 Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The firm's 50-day simple moving average is $451.99 and its two-hundred day simple moving average is $461.34.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.