Ilmarinen Mutual Pension Insurance Co Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 45.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,300 shares of the pharmaceutical company's stock after acquiring an additional 8,800 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Vertex Pharmaceuticals were worth $11,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Dunhill Financial LLC grew its position in Vertex Pharmaceuticals by 70.6% during the 3rd 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. purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Sugar Maple Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $35,000. Finally, Golden State Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Truist Financial upped their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $509.17.

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Vertex Pharmaceuticals Stock Up 1.8 %

Shares of VRTX stock traded up $8.79 during trading hours on Friday, reaching $484.28. 482,758 shares of the company's stock were exchanged, compared to its average volume of 1,320,409. 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 Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a market cap of $124.36 billion, a price-to-earnings ratio of -219.96, a P/E/G ratio of 2.11 and a beta of 0.50. The stock's 50 day moving average is $484.80 and its 200-day moving average is $464.12.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (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%. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of the stock in a transaction on Monday, March 10th. The shares were 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 owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 directly owns 67,695 shares in the company, valued at $30,805,286.70. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last ninety days. Corporate insiders own 0.20% of the company's stock.

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.