Fiduciary Trust Co Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fiduciary Trust Co increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,160 shares of the pharmaceutical company's stock after acquiring an additional 1,147 shares during the period. Fiduciary Trust Co's holdings in Vertex Pharmaceuticals were worth $5,299,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VRTX. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at $35,000. Golden State Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at $37,000. Truvestments Capital LLC increased its position in Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after buying an additional 23 shares during the last quarter. Finally, ORG Partners LLC raised its stake in shares of Vertex Pharmaceuticals by 108.2% in the fourth quarter. ORG Partners LLC now owns 102 shares of the pharmaceutical company's stock valued at $41,000 after buying an additional 53 shares during the period. Institutional investors own 90.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VRTX shares. Wells Fargo & Company lowered 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 report on Thursday, January 30th. StockNews.com upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th. Piper Sandler reduced their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and increased their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Finally, Barclays raised their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $515.04.

Vertex Pharmaceuticals Stock Up 3.4%

Shares of NASDAQ VRTX traded up $14.38 during trading on Monday, reaching $439.37. The company had a trading volume of 2,095,065 shares, compared to its average volume of 1,393,949. 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. The business's 50-day moving average is $487.70 and its 200 day moving average is $465.56. The stock has a market cap of $112.83 billion, a PE ratio of -199.71, a P/E/G ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same period last year, the firm posted $4.76 earnings per share. The firm's quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at $30,805,286.70. This trade represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last quarter. 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.