Northern Trust Corp Grows Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Northern Trust Corp lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,721,049 shares of the pharmaceutical company's stock after acquiring an additional 355,057 shares during the quarter. Northern Trust Corp owned 1.06% of Vertex Pharmaceuticals worth $1,095,766,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VRTX. Advisory Resource Group lifted its holdings in shares of Vertex Pharmaceuticals by 3.2% in the 3rd quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock worth $916,000 after acquiring an additional 61 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Vertex Pharmaceuticals by 1,352.3% during the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock worth $736,000 after acquiring an additional 1,474 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at $24,280,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at $2,187,000. Finally, Destination Wealth Management boosted its holdings in Vertex Pharmaceuticals by 4.5% in the third quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock valued at $1,563,000 after purchasing an additional 144 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock traded down $10.64 on Thursday, hitting $498.86. The stock had a trading volume of 1,451,943 shares, compared to its average volume of 1,340,291. The company's 50 day moving average price is $491.24 and its 200 day moving average price is $466.94. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The stock has a market cap of $128.25 billion, a price-to-earnings ratio of -226.75, a P/E/G ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the business'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 transaction, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 $30,805,286.70. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock valued at $2,121,012 in the last ninety days. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VRTX shares. Truist Financial boosted their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. 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 note on Monday, January 27th. Bank of America boosted their target price on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Scotiabank boosted their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $514.91.

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.