LPL Financial LLC Grows Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

LPL Financial LLC raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,053 shares of the pharmaceutical company's stock after purchasing an additional 1,340 shares during the quarter. LPL Financial LLC owned 0.07% of Vertex Pharmaceuticals worth $76,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC increased its position in shares of 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 purchasing an additional 24 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $30,000. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $33,000. Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth $35,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 1.6 %

NASDAQ:VRTX traded down $7.87 during mid-day trading on Monday, hitting $484.82. 2,231,804 shares of the company's stock were exchanged, compared to its average volume of 1,279,345. The company has a market cap of $124.50 billion, a PE ratio of -220.37, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The business has a fifty day moving average price of $477.71 and a 200 day moving average price of $463.68.

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Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results 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 analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insiders Place Their Bets

In other news, EVP David Altshuler sold 3,231 shares of the company's 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares of the company's stock, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Royal Bank of Canada lifted their price target on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Barclays increased their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Piper Sandler dropped 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. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $508.65.

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.