Employees Retirement System of Texas Buys 3,600 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Employees Retirement System of Texas boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,600 shares of the pharmaceutical company's stock after purchasing an additional 3,600 shares during the quarter. Employees Retirement System of Texas' holdings in Vertex Pharmaceuticals were worth $48,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of VRTX. Insigneo Advisory Services LLC boosted its holdings in Vertex Pharmaceuticals by 5.2% in the third quarter. Insigneo Advisory Services LLC now owns 1,314 shares of the pharmaceutical company's stock valued at $611,000 after acquiring an additional 65 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 5.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 5,153 shares of the pharmaceutical company's stock valued at $2,397,000 after purchasing an additional 244 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Vertex Pharmaceuticals by 125.0% during the 3rd quarter. National Bank of Canada FI now owns 230,498 shares of the pharmaceutical company's stock valued at $107,200,000 after purchasing an additional 128,061 shares in the last quarter. iSAM Funds UK Ltd bought a new position in Vertex Pharmaceuticals in the third quarter worth about $489,000. Finally, World Investment Advisors LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter worth about $24,280,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

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Analyst Ratings Changes

A number of research firms have issued reports on VRTX. JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Barclays lifted their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Royal Bank of Canada lifted their target price on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a report on Tuesday, April 1st. Finally, BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $512.41.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded up $8.73 during midday trading on Friday, hitting $484.22. 1,574,131 shares of the company's stock traded hands, compared to its average volume of 1,325,555. The firm has a fifty day moving average of $484.84 and a 200 day moving average of $464.27. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year 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 $124.34 billion, a price-to-earnings ratio of -220.10, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the stock in a transaction dated 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 in the company, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 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.