Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519,668 shares of the pharmaceutical company's stock after acquiring an additional 1,665 shares during the quarter. Pictet Asset Management Holding SA owned 0.20% of Vertex Pharmaceuticals worth $209,270,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC raised its holdings in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after purchasing an additional 23 shares during the last quarter. Dunhill Financial LLC increased its stake in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Vertex Pharmaceuticals by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock worth $900,000 after acquiring an additional 24 shares during the last quarter. Spinnaker Trust lifted its holdings in Vertex Pharmaceuticals by 2.1% in the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock valued at $497,000 after purchasing an additional 25 shares in the last quarter. Finally, Strategic Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 0.6% during the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

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Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the business's 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 completion of the sale, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % 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 valued at $2,121,012 in the last three months. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VRTX shares. Truist Financial boosted their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Scotiabank raised their price target on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Finally, StockNews.com upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Ten 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $508.65.

Vertex Pharmaceuticals Stock Down 1.6 %

Shares of VRTX stock traded down $7.87 on Monday, hitting $484.82. The stock had a trading volume of 2,231,804 shares, compared to its average volume of 1,279,345. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a market capitalization of $124.50 billion, a price-to-earnings ratio of -220.37, a P/E/G ratio of 2.11 and a beta of 0.41. 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's 50 day moving average is $476.45 and its 200-day moving average is $463.64.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its 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, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.