Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Draper Asset Management LLC

Draper Asset Management LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,333 shares of the pharmaceutical company’s stock after purchasing an additional 33 shares during the period. Vertex Pharmaceuticals accounts for approximately 1.6% of Draper Asset Management LLC’s portfolio, making the stock its 10th largest position. Draper Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,601,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ABC Arbitrage SA bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at $1,510,000. Czech National Bank lifted its stake in shares of Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after purchasing an additional 3,260 shares during the period. Highview Capital Management LLC DE boosted 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 purchasing an additional 102 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $662,000. Finally, Davidson Investment Advisors increased its holdings in Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after purchasing an additional 12,631 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 1,084 shares of company stock valued at $505,512. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on VRTX shares. Morgan Stanley raised their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Bank of America reduced their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Barclays upped their price objective on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a research report on Thursday, January 30th. Finally, Citigroup initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $575.00 target price for the company. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $485.72 on Friday. The business has a 50 day moving average of $446.68 and a 200-day moving average of $461.50. The firm has a market cap of $124.73 billion, a PE ratio of -220.78, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month 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 announced 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.