Zurcher Kantonalbank Zurich Cantonalbank Purchases 29,333 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 349,477 shares of the pharmaceutical company’s stock after purchasing an additional 29,333 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.14% of Vertex Pharmaceuticals worth $140,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at $39,000. CWA Asset Management Group LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $2,933,000. Equitable Trust Co. purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $244,000. SpiderRock Advisors LLC boosted its position in Vertex Pharmaceuticals by 57.2% in the 3rd quarter. SpiderRock Advisors LLC now owns 2,898 shares of the pharmaceutical company’s stock valued at $1,348,000 after buying an additional 1,055 shares during the period. Finally, Objective Capital Management LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $254,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $488.29 on Monday. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a 50 day moving average of $448.27 and a two-hundred day moving average of $461.15. The firm has a market capitalization of $125.39 billion, a PE ratio of -221.95, a P/E/G ratio of 2.11 and a beta of 0.41.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VRTX. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Truist Financial increased their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,084 shares of company stock worth $505,512. 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.