Wellington Management Group LLP Buys 1,117,214 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wellington Management Group LLP raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 23.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,916,084 shares of the pharmaceutical company's stock after acquiring an additional 1,117,214 shares during the period. Wellington Management Group LLP owned approximately 2.30% of Vertex Pharmaceuticals worth $2,382,407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Public Sector Pension Investment Board grew its holdings in Vertex Pharmaceuticals by 14.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,244 shares of the pharmaceutical company's stock valued at $5,229,000 after buying an additional 1,400 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Vertex Pharmaceuticals by 2.0% in the third quarter. Hantz Financial Services Inc. now owns 3,544 shares of the pharmaceutical company's stock worth $1,648,000 after acquiring an additional 69 shares during the last quarter. Captrust Financial Advisors increased its position in Vertex Pharmaceuticals by 2.2% during the third quarter. Captrust Financial Advisors now owns 14,409 shares of the pharmaceutical company's stock worth $6,701,000 after acquiring an additional 307 shares during the period. Erste Asset Management GmbH acquired a new position in Vertex Pharmaceuticals during the 3rd quarter valued at $29,401,000. Finally, B&L Asset Management LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter valued at $2,853,000. 90.96% of the stock is owned by institutional investors and hedge funds.

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Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $0.08 during trading on Tuesday, reaching $484.74. The company had a trading volume of 1,249,029 shares, compared to its average volume of 1,281,264. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The stock has a market cap of $124.48 billion, a PE ratio of -220.34, a PEG 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 business's 50 day moving average price is $478.85 and its 200-day moving average price is $463.67.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts' consensus estimates 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%. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Ratings Changes

VRTX has been the topic of several research reports. Truist Financial boosted their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Royal Bank of Canada boosted their price objective on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a "sector perform" rating in a research report on Tuesday. Finally, Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $509.17.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company's stock in a transaction dated Monday, March 10th. The shares were 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 in the company, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ourania Tatsis sold 310 shares of the firm's stock in a transaction dated 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 transaction, 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 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 90 days. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Company 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.