Simplify Asset Management Inc. Makes New $1.89 Million Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Simplify Asset Management Inc. bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,689 shares of the pharmaceutical company's stock, valued at approximately $1,888,000.

A number of other hedge funds have also added to or reduced their stakes in VRTX. Commerce Bank grew its stake in Vertex Pharmaceuticals by 11.6% during the third quarter. Commerce Bank now owns 7,443 shares of the pharmaceutical company's stock valued at $3,462,000 after acquiring an additional 775 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Vertex Pharmaceuticals by 21.6% in the third quarter. Eagle Asset Management Inc. now owns 8,119 shares of the pharmaceutical company's stock worth $4,195,000 after buying an additional 1,440 shares in the last quarter. Nicolet Advisory Services LLC boosted its stake in Vertex Pharmaceuticals by 4.6% during the third quarter. Nicolet Advisory Services LLC now owns 641 shares of the pharmaceutical company's stock valued at $291,000 after buying an additional 28 shares during the period. Great Valley Advisor Group Inc. grew its position in Vertex Pharmaceuticals by 23.4% during the third quarter. Great Valley Advisor Group Inc. now owns 18,250 shares of the pharmaceutical company's stock worth $8,487,000 after buying an additional 3,463 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Vertex Pharmaceuticals by 14.6% in the 3rd quarter. Cerity Partners LLC now owns 229,042 shares of the pharmaceutical company's stock worth $106,523,000 after acquiring an additional 29,225 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

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Vertex Pharmaceuticals Stock Up 0.6 %

Shares of Vertex Pharmaceuticals stock traded up $3.22 during midday trading on Thursday, hitting $503.50. The company had a trading volume of 94,683 shares, compared to its average volume of 1,217,705. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a market capitalization of $129.29 billion, a P/E ratio of -229.09, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a 50 day moving average of $473.33 and a 200 day moving average of $463.34.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its 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%. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VRTX shares. 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. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price target for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Bank of America dropped their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction on 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 in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,315 shares of company stock worth $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.