Bridgefront Capital LLC Invests $389,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bridgefront Capital LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 967 shares of the pharmaceutical company's stock, valued at approximately $389,000.

Several other institutional investors have also recently modified their holdings of the company. Cary Street Partners Financial LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $9,620,000. BW Gestao de Investimentos Ltda. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $3,814,000. Baldwin Investment Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 5.6% in the fourth quarter. Baldwin Investment Management LLC now owns 12,559 shares of the pharmaceutical company's stock worth $5,058,000 after buying an additional 668 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $248,000. Finally, Benjamin Edwards Inc. raised its position in Vertex Pharmaceuticals by 10.7% during the fourth quarter. Benjamin Edwards Inc. now owns 7,379 shares of the pharmaceutical company's stock valued at $2,971,000 after acquiring an additional 711 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 2.6%

NASDAQ:VRTX traded up $10.86 on Monday, hitting $435.85. The stock had a trading volume of 651,700 shares, compared to its average volume of 1,388,398. The company has a fifty day moving average price of $488.74 and a two-hundred day moving average price of $465.83. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year 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. The stock has a market cap of $111.92 billion, a price-to-earnings ratio of -198.19, a PEG ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The company's revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.76 earnings per share. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 6th. Leerink Partners restated a "market perform" rating and set a $503.00 price target (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Barclays lifted 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. Scotiabank lowered their target price on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 6th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $515.04.

Insider Buying and Selling

In other news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at approximately $13,256,000. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals 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.