Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Joseph Group Capital Management

Joseph Group Capital Management increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,422 shares of the pharmaceutical company's stock after acquiring an additional 750 shares during the quarter. Joseph Group Capital Management's holdings in Vertex Pharmaceuticals were worth $2,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRTX. Dunhill Financial LLC increased its holdings in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $33,000. Sugar Maple Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $35,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

VRTX stock traded down $0.08 during mid-day trading on Tuesday, reaching $484.74. The company's stock had a trading volume of 1,249,029 shares, compared to its average volume of 1,279,226. The stock has a market cap of $124.48 billion, a PE ratio of -220.34, a P/E/G ratio of 2.11 and a beta of 0.41. The company's 50 day moving average is $477.71 and its two-hundred day moving average is $463.68. 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 current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

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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%. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRTX. Oppenheimer lowered Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Thursday, December 19th. Wells Fargo & Company cut Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective for the company. in a research note on Thursday, January 30th. Piper Sandler dropped their target price 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. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their price objective for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $509.17.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of the company'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 value of $1,615,500.00. Following the transaction, the executive vice president now directly 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 legal filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction on 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 in the company, valued at $29,438,776.43. This 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 valued at $2,121,012. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Company 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.