Illumine Investment Management LLC Invests $2.33 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Illumine Investment Management LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,776 shares of the pharmaceutical company’s stock, valued at approximately $2,326,000. Vertex Pharmaceuticals makes up approximately 1.9% of Illumine Investment Management LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other large investors have also recently made changes to their positions in VRTX. Arkadios Wealth Advisors purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth approximately $312,000. Mutual Advisors LLC increased its stake in Vertex Pharmaceuticals by 0.6% in the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals in the third quarter valued at approximately $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Vertex Pharmaceuticals by 18.1% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 660 shares of the pharmaceutical company’s stock valued at $311,000 after purchasing an additional 101 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in Vertex Pharmaceuticals by 6.1% in the third quarter. First Trust Direct Indexing L.P. now owns 5,868 shares of the pharmaceutical company’s stock valued at $2,729,000 after purchasing an additional 335 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on VRTX. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price target for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Bank of America lowered their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Barclays raised their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada raised their target price on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $506.70.

Vertex Pharmaceuticals Trading Down 1.0 %

NASDAQ:VRTX opened at $474.50 on Friday. The company has a market capitalization of $121.85 billion, a PE ratio of -215.68, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The stock has a fifty day simple moving average of $438.74 and a 200-day simple moving average of $460.99. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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 research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate 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.