Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Boosted by IFP Advisors Inc

IFP Advisors Inc lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 49.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,756 shares of the pharmaceutical company’s stock after purchasing an additional 909 shares during the quarter. IFP Advisors Inc’s holdings in Vertex Pharmaceuticals were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Edgewood Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares during the period. WCM Investment Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter worth about $435,899,000. Jennison Associates LLC lifted its holdings in shares of Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after buying an additional 851,054 shares during the last quarter. Wellington Management Group LLP increased its holdings in Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after buying an additional 704,421 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Vertex Pharmaceuticals by 169.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after acquiring an additional 528,029 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup began coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Bank of America decreased their price target 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. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $474.50 on Friday. The stock has a market cap of $121.85 billion, a P/E ratio of -215.68, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock’s 50-day moving average price is $438.74 and its two-hundred day moving average price is $460.99. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.