Virtu Financial LLC Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Virtu Financial LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 60.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,521 shares of the pharmaceutical company’s stock after buying an additional 2,839 shares during the quarter. Virtu Financial LLC’s holdings in Vertex Pharmaceuticals were worth $3,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Truvestments Capital LLC raised its position in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after buying an additional 23 shares during the last quarter. Dunhill Financial LLC grew its stake in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Simon Quick Advisors LLC grew its stake in Vertex Pharmaceuticals by 1.1% in the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after purchasing an additional 24 shares during the period. Spinnaker Trust grew its stake in Vertex Pharmaceuticals by 2.1% in the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock valued at $497,000 after purchasing an additional 25 shares during the period. Finally, Strategic Advisors LLC grew its stake in Vertex Pharmaceuticals by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock valued at $1,807,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on VRTX. JPMorgan Chase & Co. reduced their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Truist Financial increased their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Piper Sandler cut their price target 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. Barclays increased their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price target for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction on 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 transaction, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the transaction, the executive vice president now owns 58,539 shares in the company, valued at approximately $27,825,928.26. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Trading Down 1.4 %

Shares of VRTX stock opened at $503.20 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm has a fifty day moving average price of $467.89 and a 200-day moving average price of $462.69. 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 company has a market cap of $129.22 billion, a price-to-earnings ratio of -228.73, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) 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%. As a group, equities analysts predict 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.