Maryland State Retirement & Pension System Raises Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Maryland State Retirement & Pension System lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,056 shares of the pharmaceutical company’s stock after buying an additional 213 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Vertex Pharmaceuticals were worth $8,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VRTX. OFI Invest Asset Management acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Arlington Trust Co LLC lifted its stake in Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Baystate Wealth Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 49.0% in the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 25 shares during the period. Finally, NBC Securities Inc. purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth approximately $34,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the sale, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ourania Tatsis sold 354 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the sale, the executive vice president now directly owns 55,804 shares in the company, valued at $23,755,762.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kristen Ambrose sold 1,374 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $577,409.76. Following the completion of the sale, the chief accounting officer now owns 9,676 shares in the company, valued at $4,066,242.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,381 shares of company stock valued at $5,203,249. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 6th. Guggenheim increased their target price on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Wolfe Research assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $440.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Finally, Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target for the company in a research note on Thursday, April 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $430.86.

Vertex Pharmaceuticals Price Performance

VRTX stock traded up $1.42 on Monday, reaching $402.50. 1,462,790 shares of the company’s stock were exchanged, compared to its average volume of 1,225,670. The stock has a fifty day moving average of $408.44 and a 200-day moving average of $400.41. Vertex Pharmaceuticals Incorporated has a twelve month low of $320.01 and a twelve month high of $448.40. The firm has a market cap of $104.03 billion, a PE ratio of 28.98, a P/E/G ratio of 1.89 and a beta of 0.39. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating the consensus estimate of $3.61 by $1.15. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. Vertex Pharmaceuticals’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.67 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

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.