Nissay Asset Management Corp Japan ADV Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Nissay Asset Management Corp Japan ADV grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,242 shares of the pharmaceutical company's stock after buying an additional 2,879 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Vertex Pharmaceuticals were worth $23,807,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of VRTX. Truvestments Capital LLC boosted 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 purchasing an additional 23 shares during the period. Simon Quick Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 1.1% during the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company's stock valued at $900,000 after acquiring an additional 24 shares during the last quarter. Spinnaker Trust boosted its position in shares of Vertex Pharmaceuticals by 2.1% during the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company's stock valued at $497,000 after acquiring an additional 25 shares during the last quarter. Strategic Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 0.6% during the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company's stock valued at $1,807,000 after acquiring an additional 25 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Vertex Pharmaceuticals by 0.7% during the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company's stock valued at $1,451,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VRTX. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Royal Bank of Canada increased their target price 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. Piper Sandler lowered their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Wells Fargo & Company downgraded 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. Finally, William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $515.04.

Vertex Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ:VRTX traded up $4.27 on Friday, hitting $438.65. 1,505,089 shares of the company's stock were exchanged, compared to its average volume of 1,409,926. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The stock has a market capitalization of $112.64 billion, a price-to-earnings ratio of -199.39, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. The business's 50 day simple moving average is $482.97 and its two-hundred day simple moving average is $464.51. 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 (NASDAQ:VRTX - Get Free Report) last released its 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). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the business posted $4.76 earnings per share. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the firm's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,005 shares of company stock worth $1,978,465. 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.