CIBC Asset Management Inc Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

CIBC Asset Management Inc lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,491 shares of the pharmaceutical company’s stock after acquiring an additional 4,389 shares during the quarter. CIBC Asset Management Inc’s holdings in Vertex Pharmaceuticals were worth $34,025,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth $27,000. Dunhill Financial LLC lifted its holdings in Vertex Pharmaceuticals by 70.6% in 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. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $30,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VRTX shares. Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a research note on Thursday, January 30th. Truist Financial increased their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, Barclays upped their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $505.57.

Insider Activity

In related news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.8 %

Shares of VRTX opened at $459.00 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company has a 50-day moving average of $435.69 and a two-hundred day moving average of $460.99.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 return on equity of 1.91% and a negative net margin of 4.52%. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current fiscal 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.