Envestnet Asset Management Inc. Acquires 19,630 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Envestnet Asset Management Inc. increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 422,698 shares of the pharmaceutical company's stock after buying an additional 19,630 shares during the quarter. Envestnet Asset Management Inc. owned about 0.16% of Vertex Pharmaceuticals worth $170,220,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRTX. Dunhill Financial LLC raised its position in shares of Vertex Pharmaceuticals by 70.6% during 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 period. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth $33,000. Sugar Maple Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $35,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $37,000. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated 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 represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were 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 $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,315 shares of company stock valued at $2,121,012. Company insiders own 0.20% of the company's stock.

Remove Ads

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded up $8.73 on Friday, hitting $484.22. 1,574,131 shares of the stock were exchanged, compared to its average volume of 1,325,555. The firm's 50 day moving average is $484.84 and its two-hundred day moving average is $464.27. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The firm has a market capitalization of $124.34 billion, a PE ratio of -220.10, a P/E/G ratio of 2.11 and a beta of 0.50. 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 released 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 net margin of 4.86% and a negative return on equity of 2.02%. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VRTX shares. Cantor Fitzgerald restated an "overweight" rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Barclays increased their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Bank of America lifted their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research report on Monday, March 31st. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price objective for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $512.41.

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.