Fayez Sarofim & Co Invests $4.19 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fayez Sarofim & Co acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,392 shares of the pharmaceutical company's stock, valued at approximately $4,185,000.

A number of other institutional investors and hedge funds also recently modified their holdings of VRTX. Advisory Resource Group grew its position in Vertex Pharmaceuticals by 3.2% during the 3rd quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock worth $916,000 after purchasing an additional 61 shares in the last quarter. Anchor Investment Management LLC boosted its position in shares of Vertex Pharmaceuticals by 1,352.3% in the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock worth $736,000 after buying an additional 1,474 shares during the period. World Investment Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at $24,280,000. Wilmington Savings Fund Society FSB acquired a new position in Vertex Pharmaceuticals during the third quarter valued at $2,187,000. Finally, Destination Wealth Management lifted its stake in Vertex Pharmaceuticals by 4.5% in the 3rd quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock worth $1,563,000 after acquiring an additional 144 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

VRTX traded up $1.37 on Friday, hitting $493.84. 1,561,491 shares of the stock traded hands, compared to its average volume of 1,334,761. The business has a fifty day moving average price of $489.78 and a two-hundred day moving average price of $466.36. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $126.81 billion, a PE ratio of -224.47, a P/E/G ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data 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%. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions 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 transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,315 shares of company stock valued at $2,121,012. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

VRTX has been the topic of several research analyst reports. Piper Sandler lowered their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Truist Financial upped their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Scotiabank lifted their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. StockNews.com upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Finally, William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $514.91.

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.