Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Somerville Kurt F

Somerville Kurt F grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,392 shares of the pharmaceutical company's stock after acquiring an additional 3,748 shares during the quarter. Vertex Pharmaceuticals comprises approximately 1.4% of Somerville Kurt F's investment portfolio, making the stock its 26th largest holding. Somerville Kurt F's holdings in Vertex Pharmaceuticals were worth $8,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dunhill Financial LLC lifted its holdings in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 24 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $33,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $30,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $35,000. Finally, Golden State Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at $37,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 directly owns 26,512 shares in the company, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the company'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 transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VRTX shares. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. HC Wainwright reiterated a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their price objective for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Stifel Nicolaus lifted their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a "hold" rating in a report on Monday, December 16th. Finally, StockNews.com raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. 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 stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $509.17.

Vertex Pharmaceuticals Trading Down 0.5 %

NASDAQ VRTX traded down $2.56 on Wednesday, reaching $469.81. 1,024,497 shares of the company were exchanged, compared to its average volume of 1,515,050. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market capitalization of $120.64 billion, a P/E ratio of -213.55, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. The business's fifty day moving average price is $483.41 and its 200 day moving average price is $463.75. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

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%. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.