GF Fund Management CO. LTD. Purchases Shares of 59,178 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

GF Fund Management CO. LTD. purchased a new position in shares of 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 firm purchased 59,178 shares of the pharmaceutical company's stock, valued at approximately $23,831,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $1,374,948,000. Parnassus Investments LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $731,283,000. Capital World Investors grew its stake in Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock worth $11,406,667,000 after purchasing an additional 1,514,993 shares during the period. Capital Research Global Investors boosted its holdings in 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 acquiring an additional 1,426,746 shares in the last quarter. Finally, Edgewood Management LLC raised its stake in shares of Vertex Pharmaceuticals by 91.2% in the fourth quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company's stock worth $1,190,626,000 after purchasing an additional 1,410,238 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on VRTX shares. Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. BMO Capital Markets set a $545.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Finally, Bank of America boosted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a "buy" rating in a report on Monday, March 31st. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $515.04.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded up $10.00 during trading hours on Tuesday, hitting $446.00. 2,048,282 shares of the company traded hands, compared to its average volume of 1,419,098. The stock has a market capitalization of $114.53 billion, a price-to-earnings ratio of -202.73, a P/E/G ratio of 2.11 and a beta of 0.51. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm has a 50-day moving average of $474.73 and a 200 day moving average of $462.07. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the company earned $4.76 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the sale, the executive vice president now owns 58,539 shares of the company's stock, valued at approximately $27,825,928.26. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction dated Monday, March 10th. The shares were 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 directly owns 26,512 shares of the company's stock, 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. In the last ninety days, insiders have sold 3,813 shares of company stock valued at $1,889,514. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Company 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.