Polar Asset Management Partners Inc. Acquires Shares of 57,000 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Polar Asset Management Partners Inc. bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 57,000 shares of the pharmaceutical company's stock, valued at approximately $22,954,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at $37,000. Truvestments Capital LLC grew its stake in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock valued at $40,000 after acquiring an additional 23 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth about $40,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $41,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 0.9%

Vertex Pharmaceuticals stock traded down $4.02 during mid-day trading on Friday, reaching $443.08. The stock had a trading volume of 530,471 shares, compared to its average volume of 1,414,654. The company has a market capitalization of $113.78 billion, a price-to-earnings ratio of -201.40, a PEG ratio of 2.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a 50-day moving average price of $470.99 and a two-hundred day moving average price of $461.47.

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 the consensus estimate of $4.29 by ($0.23). The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the company earned $4.76 EPS. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 26,512 shares of the company's stock, valued at $13,256,000. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VRTX. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a report on Friday, January 31st. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 6th. Morgan Stanley raised their price objective 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, May 6th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Scotiabank decreased their target price on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 6th. Fourteen 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $515.04.

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.