Connor Clark & Lunn Investment Management Ltd. Has $8.46 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 168.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,003 shares of the pharmaceutical company’s stock after acquiring an additional 13,172 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vertex Pharmaceuticals were worth $8,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC increased its holdings in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $30,000. Truvestments Capital LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Up 0.4 %

Shares of NASDAQ VRTX opened at $504.77 on Friday. The business has a 50-day simple moving average of $457.74 and a two-hundred day simple moving average of $461.89. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a market cap of $129.62 billion, a P/E ratio of -229.44, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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%. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on VRTX shares. Piper Sandler lowered their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Morgan Stanley lifted their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the company from $500.00 to $550.00 in a report on Monday, December 9th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and lifted their price target for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Finally, Truist Financial raised their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Ten 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $506.70.

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.