Investment Management Corp VA ADV Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Investment Management Corp VA ADV purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 838 shares of the pharmaceutical company’s stock, valued at approximately $337,000.

A number of other institutional investors also recently bought and sold shares of VRTX. ABC Arbitrage SA purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $1,510,000. Highview Capital Management LLC DE lifted its position in shares of Vertex Pharmaceuticals by 1.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after buying an additional 102 shares in the last quarter. Davidson Investment Advisors lifted its position in shares of Vertex Pharmaceuticals by 26.0% during the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock valued at $24,630,000 after buying an additional 12,631 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Vertex Pharmaceuticals by 75.5% during the 4th quarter. Jones Financial Companies Lllp now owns 2,468 shares of the pharmaceutical company’s stock valued at $994,000 after buying an additional 1,062 shares in the last quarter. Finally, Concord Wealth Partners lifted its position in shares of Vertex Pharmaceuticals by 32.6% during the 4th quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock valued at $1,413,000 after buying an additional 862 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on VRTX. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. HC Wainwright reiterated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Wolfe Research downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 7th. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $515.04.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $434.03 on Friday. The business’s 50-day moving average is $477.78 and its two-hundred day moving average is $463.56. The company has a market capitalization of $111.46 billion, a P/E ratio of -197.29, a P/E/G ratio of 2.11 and a beta of 0.51. 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 Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned $4.76 earnings per share. Vertex Pharmaceuticals’s revenue was up 2.6% on a year-over-year basis. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the transaction, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at $27,825,928.26. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals 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 sale, the executive vice president now directly owns 26,512 shares in the company, valued at approximately $13,256,000. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,813 shares of company stock worth $1,889,514. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company 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.