Tower Research Capital LLC TRC Has $8.33 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tower Research Capital LLC TRC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 188.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,680 shares of the pharmaceutical company's stock after buying an additional 13,516 shares during the quarter. Tower Research Capital LLC TRC's holdings in Vertex Pharmaceuticals were worth $8,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,374,948,000. Parnassus Investments LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $731,283,000. Capital World Investors increased its stake in Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after buying an additional 1,514,993 shares during the last quarter. Capital Research Global Investors lifted its position in Vertex Pharmaceuticals by 15.8% during the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after buying an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 91.2% during the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock worth $1,190,626,000 after buying an additional 1,410,238 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

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 1,329,413. 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 business's 50-day moving average price is $488.48 and its 200-day moving average price is $465.82. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The firm has a market cap of $126.45 billion, a PE ratio of -223.83, a P/E/G ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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 forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on VRTX shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday. 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 note on Tuesday, February 11th. Bank of America increased their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. HC Wainwright restated a "buy" rating and set a $550.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Barclays upped their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $514.91.

Insiders Place Their Bets

In related news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock worth $2,121,012 in the last 90 days. Company insiders own 0.20% of the company's stock.

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.