Kentucky Retirement Systems Insurance Trust Fund Acquires 636 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,278 shares of the pharmaceutical company’s stock after purchasing an additional 636 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Vertex Pharmaceuticals were worth $3,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals during the third quarter worth $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the third quarter worth $27,000. Dunhill Financial LLC boosted its position in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $33,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $459.00 on Tuesday. The firm’s 50 day simple moving average is $435.69 and its 200 day simple moving average is $460.99. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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 return on equity of 1.91% and a negative net margin of 4.52%. Analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research note on Thursday, January 30th. HC Wainwright reiterated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $505.57.

Vertex Pharmaceuticals 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.