Silvercrest Asset Management Group LLC Acquires 3,410 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Silvercrest Asset Management Group LLC boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 24.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,348 shares of the pharmaceutical company's stock after acquiring an additional 3,410 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in Vertex Pharmaceuticals were worth $6,986,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $30,000. Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $35,000. Golden State Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $37,000. Truvestments Capital LLC increased its stake in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after acquiring an additional 23 shares during the last quarter. Finally, Midwest Capital Advisors LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $41,000. 90.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VRTX shares. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a report on Friday, January 31st. Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Truist Financial upped their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and upped their price objective for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Finally, Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $420.00 to $423.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. Thirteen investment 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $515.04.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 530 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the transaction, the executive vice president now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 3,813 shares of company stock valued at $1,889,514 in the last 90 days. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Down 2.7%

Shares of NASDAQ:VRTX traded down $11.86 during trading on Wednesday, hitting $435.32. The stock had a trading volume of 1,427,271 shares, compared to its average volume of 1,413,483. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a market capitalization of $111.79 billion, a PE ratio of -197.87, a PEG ratio of 2.11 and a beta of 0.51. The firm's fifty day moving average is $479.38 and its 200 day moving average is $463.83. 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 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 the consensus estimate of $2.85 billion. During the same period in the prior year, the company posted $4.76 EPS. The firm's revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.