Russell Investments Group Ltd. Acquires 9,377 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Russell Investments Group Ltd. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 239,342 shares of the pharmaceutical company's stock after purchasing an additional 9,377 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Vertex Pharmaceuticals worth $96,325,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hemenway Trust Co LLC boosted its stake in Vertex Pharmaceuticals by 23.2% in the 4th quarter. Hemenway Trust Co LLC now owns 49,413 shares of the pharmaceutical company's stock worth $19,899,000 after buying an additional 9,294 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Vertex Pharmaceuticals by 4.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 422,698 shares of the pharmaceutical company's stock valued at $170,220,000 after purchasing an additional 19,630 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in Vertex Pharmaceuticals by 12.7% during the 4th quarter. Perennial Investment Advisors LLC now owns 613 shares of the pharmaceutical company's stock worth $247,000 after acquiring an additional 69 shares in the last quarter. Aviva PLC boosted its stake in shares of Vertex Pharmaceuticals by 24.6% in the fourth quarter. Aviva PLC now owns 155,490 shares of the pharmaceutical company's stock valued at $62,616,000 after purchasing an additional 30,650 shares during the period. Finally, Rhenman & Partners Asset Management AB grew its stake in shares of Vertex Pharmaceuticals by 4.7% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 50,000 shares of the pharmaceutical company's stock valued at $20,135,000 after acquiring an additional 2,250 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on VRTX shares. 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. HC Wainwright reissued a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Scotiabank lifted their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Truist Financial increased their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $509.17.

Vertex Pharmaceuticals Trading Up 2.0 %

Shares of NASDAQ:VRTX traded up $9.40 on Friday, hitting $484.89. The company had a trading volume of 482,758 shares, compared to its average volume of 1,320,409. 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 $484.80 and its two-hundred day simple moving average is $464.12. The firm has a market capitalization of $124.52 billion, a price-to-earnings ratio of -219.96, a P/E/G ratio of 2.11 and a beta of 0.50.

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

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was 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 owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is owned by corporate 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.