EFG Asset Management North America Corp. Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

EFG Asset Management North America Corp. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 49.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,055 shares of the pharmaceutical company's stock after purchasing an additional 3,964 shares during the period. EFG Asset Management North America Corp.'s holdings in Vertex Pharmaceuticals were worth $4,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VRTX. Dunhill Financial LLC lifted its stake in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $33,000. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Truvestments Capital LLC acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $35,000. 90.96% of the stock is owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares of the company's stock, valued at $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 in the last quarter. Insiders own 0.20% of the company's stock.

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Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded down $5.99 during trading on Friday, hitting $496.57. The stock had a trading volume of 399,346 shares, compared to its average volume of 1,271,432. The firm has a market cap of $127.51 billion, a price-to-earnings ratio of -225.81, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The business's 50-day moving average is $475.04 and its 200 day moving average is $463.61. 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 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their target price for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price target 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. Piper Sandler cut their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Finally, Royal Bank of Canada increased their target price on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $506.70.

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.