Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 33.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,051,111 shares of the pharmaceutical company's stock after acquiring an additional 261,891 shares during the period. Nuveen Asset Management LLC owned 0.41% of Vertex Pharmaceuticals worth $423,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in VRTX. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Sugar Maple Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $35,000. Golden State Wealth Management LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth $37,000. Truvestments Capital LLC raised its holdings in shares of Vertex Pharmaceuticals by 30.3% in the fourth 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 purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $41,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.5%

VRTX traded up $2.01 on Monday, reaching $440.66. The company's stock had a trading volume of 1,125,747 shares, compared to its average volume of 1,409,087. 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 1 year low of $377.85 and a 1 year high of $519.88. The business's 50 day moving average is $482.97 and its 200 day moving average is $464.36. The stock has a market cap of $113.16 billion, a price-to-earnings ratio of -200.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (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 during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the firm posted $4.76 EPS. The firm's quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. 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 research report on Monday, March 31st. BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Truist Financial increased their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Thirteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $515.04.

Insiders Place Their Bets

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 value of $1,615,500.00. Following the sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $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 three months, insiders have sold 4,005 shares of company stock valued at $1,978,465. Company insiders own 0.20% of the company's stock.

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.