Impact Capital Partners LLC Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Impact Capital Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,244 shares of the pharmaceutical company's stock, valued at approximately $904,000.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of Vertex Pharmaceuticals by 0.8% during the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company's stock valued at $5,495,501,000 after acquiring an additional 90,173 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after acquiring an additional 851,054 shares during the last quarter. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock valued at $2,231,858,000 after buying an additional 704,421 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Vertex Pharmaceuticals by 5.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company's stock worth $1,351,385,000 after buying an additional 159,693 shares during the period. Finally, Janus Henderson Group PLC increased its position in Vertex Pharmaceuticals by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company's stock worth $1,170,506,000 after buying an additional 100,114 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on VRTX. Piper Sandler dropped their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. StockNews.com raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday. Barclays lifted their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, Scotiabank boosted their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $506.70.

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Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $495.42 on Thursday. 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 firm has a market cap of $127.22 billion, a P/E ratio of -225.19, a P/E/G ratio of 2.11 and a beta of 0.41. The business's fifty day moving average is $453.85 and its two-hundred day moving average is $461.58. 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 issued its quarterly earnings results 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%. Equities research analysts forecast 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 company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total value 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 approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value 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 $29,438,776.43. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last 90 days. 0.20% of the stock is owned by company insiders.

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.

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