NEOS Investment Management LLC Acquires 7,732 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

NEOS Investment Management LLC lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 21.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,331 shares of the pharmaceutical company's stock after purchasing an additional 7,732 shares during the period. NEOS Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $17,449,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $1,510,000. Czech National Bank lifted its position in shares of Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company's stock worth $22,486,000 after purchasing an additional 3,260 shares during the last quarter. Highview Capital Management LLC DE lifted its position in shares of Vertex Pharmaceuticals by 1.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company's stock worth $2,324,000 after purchasing an additional 102 shares during the last quarter. Davidson Investment Advisors increased its holdings in Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company's stock valued at $24,630,000 after buying an additional 12,631 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Vertex Pharmaceuticals by 75.5% in the fourth quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company's stock valued at $994,000 after buying an additional 1,062 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities analysts have commented on VRTX shares. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and increased their price target for the company from $500.00 to $550.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. reduced their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and boosted their target price for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Scotiabank lifted their price objective on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $508.65.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction on 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 sale, the executive vice president now directly owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction on 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 transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. 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 over the last three months. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Down 2.2 %

Shares of NASDAQ VRTX traded down $10.69 during mid-day trading on Monday, hitting $482.00. 692,072 shares of the company traded hands, compared to its average volume of 1,443,968. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock has a market capitalization of $123.77 billion, a price-to-earnings ratio of -218.58, a PEG ratio of 2.11 and a beta of 0.41. The business has a 50 day moving average of $476.45 and a two-hundred day moving average of $463.64.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 2.02% and a negative net margin of 4.86%. On average, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.