Kane Investment Management Inc. Buys Shares of 2,221 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kane Investment Management Inc. bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,221 shares of the pharmaceutical company's stock, valued at approximately $894,000.

Several other institutional investors have also bought and sold shares of the stock. Advisory Resource Group grew its holdings in shares of Vertex Pharmaceuticals by 3.2% in the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock valued at $916,000 after acquiring an additional 61 shares in the last quarter. Anchor Investment Management LLC grew its stake in Vertex Pharmaceuticals by 1,352.3% in the 3rd quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock valued at $736,000 after purchasing an additional 1,474 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $24,280,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $2,187,000. Finally, Destination Wealth Management boosted its holdings in shares of Vertex Pharmaceuticals by 4.5% in the 3rd quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock worth $1,563,000 after buying an additional 144 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VRTX. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Barclays boosted their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Finally, Piper Sandler lowered 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. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $512.41.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, 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. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ:VRTX traded up $3.21 on Friday, hitting $489.10. The company had a trading volume of 1,205,462 shares, compared to its average volume of 1,328,900. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The firm's 50-day simple moving average is $486.09 and its two-hundred day simple moving average is $465.07. The firm has a market capitalization of $125.60 billion, a price-to-earnings ratio of -222.32, a P/E/G ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate 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 analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.