Foster Dykema Cabot & Partners LLC Acquires 1,094 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Foster Dykema Cabot & Partners LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,864 shares of the pharmaceutical company's stock after buying an additional 1,094 shares during the quarter. Vertex Pharmaceuticals accounts for about 1.9% of Foster Dykema Cabot & Partners LLC's investment portfolio, making the stock its 19th largest position. Foster Dykema Cabot & Partners LLC's holdings in Vertex Pharmaceuticals were worth $24,510,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Sugar Maple Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $35,000. Golden State Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $37,000. Truvestments Capital LLC increased its position in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after purchasing an additional 23 shares during the period. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $41,000. 90.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRTX. Cantor Fitzgerald reiterated an "overweight" rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Barclays upped their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Piper Sandler dropped their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their target price for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $512.41.

Vertex Pharmaceuticals Stock Down 2.9 %

NASDAQ VRTX opened at $485.89 on Thursday. The stock has a market capitalization of $124.77 billion, a P/E ratio of -220.86, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a fifty day moving average of $485.70 and a 200-day moving average of $464.91.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts' consensus estimates 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 forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction 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 $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 over the last ninety days. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals 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.

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