NewEdge Advisors LLC Raises Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

NewEdge Advisors LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,651 shares of the pharmaceutical company's stock after buying an additional 1,294 shares during the quarter. NewEdge Advisors LLC's holdings in Vertex Pharmaceuticals were worth $5,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. ABC Arbitrage SA bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $1,510,000. Czech National Bank raised its stake in shares of Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock worth $22,486,000 after purchasing an additional 3,260 shares during the period. Highview Capital Management LLC DE boosted its holdings in shares of Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock worth $2,324,000 after buying an additional 102 shares during the last quarter. Davidson Investment Advisors grew its position in Vertex Pharmaceuticals by 26.0% during the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock valued at $24,630,000 after buying an additional 12,631 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Vertex Pharmaceuticals by 75.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock worth $994,000 after buying an additional 1,062 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares in the company, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the firm'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 transaction of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,315 shares of company stock valued at $2,121,012. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.4 %

Shares of Vertex Pharmaceuticals stock traded up $1.95 during trading on Wednesday, reaching $492.42. The company's stock had a trading volume of 1,247,179 shares, compared to its average volume of 1,328,381. 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 company has a market cap of $126.45 billion, a price-to-earnings ratio of -223.83, a PEG ratio of 2.11 and a beta of 0.50. The firm's 50-day moving average is $487.81 and its two-hundred day moving average is $465.64. 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 released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday. Scotiabank increased their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Piper Sandler cut their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Finally, Bank of America boosted their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $514.91.

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.