Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by RiverPark Advisors LLC

RiverPark Advisors LLC raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 285.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 393 shares of the pharmaceutical company’s stock after purchasing an additional 291 shares during the quarter. RiverPark Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of VRTX. Advisory Resource Group lifted its position in Vertex Pharmaceuticals by 3.2% during the 3rd quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company’s stock worth $916,000 after acquiring an additional 61 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of Vertex Pharmaceuticals by 1,352.3% during the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company’s stock worth $736,000 after purchasing an additional 1,474 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter valued at $24,280,000. Wilmington Savings Fund Society FSB acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $2,187,000. Finally, Destination Wealth Management increased its stake in Vertex Pharmaceuticals by 4.5% during the 3rd quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company’s stock worth $1,563,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research report on Thursday, January 30th. Truist Financial lifted their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Piper Sandler reduced their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday. Finally, Barclays increased their price objective on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $514.91.

Vertex Pharmaceuticals Trading Up 0.4 %

Shares of NASDAQ:VRTX opened at $492.42 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $488.48 and its 200 day moving average price is $465.82. The company has a market cap of $126.45 billion, a PE ratio of -223.83, a P/E/G ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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%. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals 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 sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the 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 completion of the transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. This 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. Corporate 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.