LGT Group Foundation Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

LGT Group Foundation lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,334 shares of the pharmaceutical company’s stock after purchasing an additional 129 shares during the quarter. LGT Group Foundation’s holdings in Vertex Pharmaceuticals were worth $940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dunhill Financial LLC boosted its holdings in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at about $33,000. Truvestments Capital LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at about $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at about $35,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.7 %

VRTX stock opened at $483.31 on Tuesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. 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 firm has a market cap of $124.11 billion, a PE ratio of -219.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The business has a 50 day moving average of $441.95 and a 200 day moving average of $461.06.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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%. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals 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 transaction of $142,547.30. Following the sale, the executive vice president now directly owns 64,021 shares in the company, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 1,084 shares of company stock worth $505,512. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America dropped their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. 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 research report on Tuesday, February 11th. Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Truist Financial upped their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

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.