GAMMA Investing LLC Buys 2,421,073 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

GAMMA Investing LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 60,572.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,425,070 shares of the pharmaceutical company's stock after acquiring an additional 2,421,073 shares during the quarter. GAMMA Investing LLC owned about 0.94% of Vertex Pharmaceuticals worth $1,175,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $30,000. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $31,000. Golden State Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $37,000. Truvestments Capital LLC boosted its stake in Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after acquiring an additional 23 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $40,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded up $1.82 during trading on Monday, reaching $443.87. The company's stock had a trading volume of 703,220 shares, compared to its average volume of 1,418,037. The firm has a market cap of $113.99 billion, a price-to-earnings ratio of -202.00, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The firm has a 50 day moving average of $469.67 and a 200-day moving average of $460.75. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VRTX. Royal Bank of Canada increased their target price 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. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Truist Financial upped their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Canaccord Genuity Group raised Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Finally, Barclays upped their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $515.04.

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.