Tower Research Capital LLC TRC Purchases 13,516 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tower Research Capital LLC TRC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 188.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,680 shares of the pharmaceutical company’s stock after acquiring an additional 13,516 shares during the period. Tower Research Capital LLC TRC’s holdings in Vertex Pharmaceuticals were worth $8,328,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Thematics Asset Management bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $62,000. Transce3nd LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $50,000. Mirabella Financial Services LLP purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $4,501,000. MetLife Investment Management LLC raised its position in Vertex Pharmaceuticals by 1.2% in the fourth quarter. MetLife Investment Management LLC now owns 73,884 shares of the pharmaceutical company’s stock worth $29,753,000 after acquiring an additional 873 shares during the period. Finally, Norinchukin Bank The boosted its stake in shares of Vertex Pharmaceuticals by 8.6% during the 4th quarter. Norinchukin Bank The now owns 13,957 shares of the pharmaceutical company’s stock worth $5,620,000 after acquiring an additional 1,106 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred 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. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock worth $2,121,012 over the last quarter. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research note on Thursday, January 30th. Truist Financial raised their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. StockNews.com upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $512.41.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $489.10 on Friday. The stock 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. The stock has a 50 day moving average price of $486.76 and a 200-day moving average price of $465.23. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.