Corton Capital Inc. Invests $515,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Corton Capital Inc. bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,278 shares of the pharmaceutical company's stock, valued at approximately $515,000. Vertex Pharmaceuticals comprises about 0.3% of Corton Capital Inc.'s portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital World Investors grew its holdings in shares of Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after buying an additional 1,514,993 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Vertex Pharmaceuticals by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company's stock valued at $9,366,113,000 after purchasing an additional 98,654 shares during the period. Capital Research Global Investors lifted its position in shares of Vertex Pharmaceuticals by 15.8% in the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after purchasing an additional 1,426,746 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Vertex Pharmaceuticals by 23.3% during the fourth quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company's stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares during the period. Finally, Loomis Sayles & Co. L P grew its position in Vertex Pharmaceuticals by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company's stock valued at $1,519,302,000 after purchasing an additional 704,575 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Bank of America upped their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Piper Sandler lowered their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, BMO Capital Markets set a $545.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $515.04.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded up $0.11 on Friday, hitting $429.71. The company's stock had a trading volume of 196,005 shares, compared to its average volume of 1,381,469. The company has a fifty day moving average price of $489.96 and a 200-day moving average price of $466.24. The firm has a market cap of $110.47 billion, a P/E ratio of -195.32, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one 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.

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

Insiders Place Their Bets

In other news, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction on 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 sale, the executive vice president now directly owns 67,695 shares of the company's stock, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last three months. 0.20% of the stock is currently owned by corporate 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.