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

Colrain Capital LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,696 shares of the pharmaceutical company's stock, valued at approximately $683,000. Vertex Pharmaceuticals accounts for about 0.7% of Colrain Capital LLC's investment portfolio, making the stock its 23rd largest position.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company's stock worth $9,366,113,000 after buying an additional 98,654 shares during the last quarter. State Street Corp grew its position in shares of Vertex Pharmaceuticals by 0.8% during the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company's stock valued at $5,495,501,000 after acquiring an additional 90,173 shares during the period. Wellington Management Group LLP increased its stake in shares of Vertex Pharmaceuticals by 23.3% in the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Vertex Pharmaceuticals by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company's stock valued at $1,519,302,000 after purchasing an additional 704,575 shares in the last quarter. Finally, Norges Bank purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at $1,374,948,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have recently commented on VRTX shares. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price objective for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Scotiabank lifted their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and increased their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. HC Wainwright restated a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company downgraded Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective on the stock. in a research report on Thursday, January 30th. Ten equities research 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $509.17.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the firm'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 transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,315 shares of company stock worth $2,121,012. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.1 %

Shares of NASDAQ VRTX traded up $0.52 during trading hours on Thursday, hitting $484.01. 2,062,623 shares of the company traded hands, compared to its average volume of 1,284,420. The company's 50 day moving average price is $479.96 and its 200 day moving average price is $463.81. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The stock has a market capitalization of $124.29 billion, a price-to-earnings ratio of -220.00, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate 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 anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.