Commerce Bank Boosts Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Commerce Bank grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,638 shares of the pharmaceutical company’s stock after buying an additional 1,195 shares during the period. Commerce Bank’s holdings in Vertex Pharmaceuticals were worth $3,479,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $30,000. Sugar Maple Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $35,000. Golden State Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $37,000. Truvestments Capital LLC increased its holdings in Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after buying an additional 23 shares in the last quarter. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. HC Wainwright restated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Piper Sandler decreased their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and raised their target price for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Finally, Scotiabank upped their price target on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a report 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 issued a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $512.41.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was 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 of the company’s stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $489.10 on Monday. The company has a market cap of $125.60 billion, a price-to-earnings ratio of -222.32, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The stock’s 50-day moving average is $486.76 and its 200-day moving average is $465.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS 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%. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.