Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Raised by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 27.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,225 shares of the pharmaceutical company's stock after acquiring an additional 3,307 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Vertex Pharmaceuticals were worth $6,080,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Dunhill Financial LLC boosted its stake in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $33,000. Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Truvestments Capital LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VRTX. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Piper Sandler lowered 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. Oppenheimer downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Truist Financial upped their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $506.70.

Remove Ads

Insiders Place Their Bets

In other news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the sale, the executive vice president now owns 64,021 shares of the company's stock, valued at approximately $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 quarter, insiders have sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded down $6.98 during mid-day trading on Friday, hitting $503.20. The company's stock had a trading volume of 2,280,400 shares, compared to its average volume of 1,221,069. The stock has a market capitalization of $129.22 billion, a P/E ratio of -228.73, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The stock's fifty day moving average price is $467.89 and its two-hundred day moving average price is $462.60. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results 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 return on equity of 2.02% and a negative net margin of 4.86%. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.