GAMMA Investing LLC Purchases New Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

GAMMA Investing LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,005 shares of the pharmaceutical company’s stock, valued at approximately $869,000.

A number of other large investors also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC boosted its stake in Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares during the period. Fortitude Family Office LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Baystate Wealth Management LLC increased its stake in Vertex Pharmaceuticals by 49.0% in the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 25 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in Vertex Pharmaceuticals during the third quarter valued at approximately $34,000. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price objective for the company in a report on Thursday, April 11th. Truist Financial lifted their price target on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Wolfe Research assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, February 15th. They issued an “outperform” rating and a $515.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $429.45.

Vertex Pharmaceuticals Stock Up 1.2 %

Shares of NASDAQ VRTX traded up $4.99 during trading on Tuesday, reaching $404.91. The company had a trading volume of 1,070,081 shares, compared to its average volume of 1,246,031. The stock has a market cap of $104.65 billion, a PE ratio of 29.23, a P/E/G ratio of 1.86 and a beta of 0.35. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12-month low of $316.43 and a 12-month high of $448.40. The business’s 50-day moving average is $413.23 and its 200 day moving average is $398.05.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. During the same quarter last year, the company earned $3.33 EPS. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the sale, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the sale, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kristen Ambrose sold 1,374 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $577,409.76. Following the transaction, the chief accounting officer now owns 9,676 shares in the company, valued at $4,066,242.24. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock valued at $5,203,249 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

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.