Banque Pictet & Cie SA Has $4.85 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Banque Pictet & Cie SA increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,043 shares of the pharmaceutical company's stock after acquiring an additional 788 shares during the quarter. Banque Pictet & Cie SA's holdings in Vertex Pharmaceuticals were worth $4,850,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in VRTX. Edgewood Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock valued at $719,186,000 after acquiring an additional 1,526,983 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $435,899,000. Jennison Associates LLC raised its holdings in shares of Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after acquiring an additional 851,054 shares during the period. Wellington Management Group LLP raised its holdings in shares of Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock valued at $2,231,858,000 after acquiring an additional 704,421 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company's stock valued at $338,136,000 after acquiring an additional 528,029 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares in the company, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

VRTX has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. StockNews.com downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 21st. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price objective on the stock. in a research report on Thursday, January 30th. UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Truist Financial boosted their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $505.57.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded up $3.11 during trading hours on Tuesday, hitting $462.11. 1,377,920 shares of the company traded hands, compared to its average volume of 1,527,749. The stock has a market capitalization of $119.01 billion, a price-to-earnings ratio of -232.22, a P/E/G ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a 50-day moving average of $435.39 and a 200 day moving average of $460.67. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

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 the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current year.

About Vertex Pharmaceuticals

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.