Daiwa Securities Group Inc. Grows Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Daiwa Securities Group Inc. grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,728 shares of the pharmaceutical company's stock after acquiring an additional 7,861 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Vertex Pharmaceuticals were worth $26,469,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dunhill Financial LLC boosted its holdings in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth $33,000. Truvestments Capital LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth $35,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $35,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 0.7 %

Vertex Pharmaceuticals stock traded up $3.51 during midday trading on Wednesday, reaching $491.85. The stock had a trading volume of 302,115 shares, compared to its average volume of 1,463,603. 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 firm has a market cap of $126.30 billion, a price-to-earnings ratio of -223.61, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a fifty day moving average of $451.99 and a 200 day moving average of $461.34.

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Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly 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 return on equity of 2.02% and a negative net margin of 4.86%. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Truist Financial boosted their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Morgan Stanley boosted 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 report on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price target for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Scotiabank boosted 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. Finally, Bank of America decreased their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $506.70.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 530 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the transaction, the executive vice president now owns 58,539 shares of the company's stock, valued at $27,825,928.26. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 1,084 shares of company stock worth $505,512. 0.20% of the stock is currently owned by insiders.

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.