Clare Market Investments LLC Acquires Shares of 1,490 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Clare Market Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, Holdings Channel.com reports. The firm acquired 1,490 shares of the pharmaceutical company’s stock, valued at approximately $600,000.

A number of other hedge funds have also bought and sold shares of VRTX. Dunhill Financial LLC increased its position in Vertex Pharmaceuticals by 70.6% during the third 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 last quarter. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at $30,000. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at $33,000. Truvestments Capital LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at $35,000. Institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,084 shares of company stock valued at $505,512 in the last three months. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $500.01 on Tuesday. The firm has a market cap of $128.40 billion, a price-to-earnings ratio of -227.28, a PEG ratio of 2.11 and a beta of 0.41. The firm has a 50-day simple moving average of $450.28 and a two-hundred day simple moving average of $461.29. 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 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%. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRTX. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and boosted their price objective for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. Truist Financial upped their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Barclays upped their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $506.70.

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.