Commerce Bank Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Commerce Bank boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,638 shares of the pharmaceutical company's stock after buying an additional 1,195 shares during the period. Commerce Bank's holdings in Vertex Pharmaceuticals were worth $3,479,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Advisory Resource Group increased its holdings in Vertex Pharmaceuticals by 3.2% during the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock valued at $916,000 after buying an additional 61 shares during the last quarter. Anchor Investment Management LLC lifted its position in Vertex Pharmaceuticals by 1,352.3% during the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock valued at $736,000 after purchasing an additional 1,474 shares in the last quarter. World Investment Advisors LLC bought a new stake in Vertex Pharmaceuticals during the third quarter valued at about $24,280,000. Wilmington Savings Fund Society FSB purchased a new stake in Vertex Pharmaceuticals in the third quarter worth about $2,187,000. Finally, Destination Wealth Management raised its stake in shares of Vertex Pharmaceuticals by 4.5% in the third quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock worth $1,563,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Up 0.3 %

Shares of VRTX traded up $1.37 during trading hours on Friday, reaching $493.84. 1,541,482 shares of the company traded hands, compared to its average volume of 1,332,507. The firm has a market cap of $126.81 billion, a price-to-earnings ratio of -224.47, a PEG ratio of 2.11 and a beta of 0.50. The stock's fifty day moving average price is $489.14 and its 200 day moving average price is $466.12. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. 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 released its quarterly earnings data 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 net margin of 4.86% and a negative return on equity of 2.02%. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Barclays increased their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. BMO Capital Markets set a $545.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 target price for the company. in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their price objective for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $514.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals 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 of the company's stock, valued at $13,256,000. The trade was 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 this hyperlink. Also, EVP Ourania Tatsis sold 310 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock worth $2,121,012 over the last three months. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals 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.