Allstate Corp Makes New $3.07 Million Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Allstate Corp acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,615 shares of the pharmaceutical company’s stock, valued at approximately $3,067,000.

Other large investors also recently made changes to their positions in the company. Dunhill Financial LLC boosted its holdings in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $33,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $30,000. Sugar Maple Asset Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $35,000. Finally, Golden State Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Finally, Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their price target for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Ten 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Activity

In other news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $492.69 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. 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 company has a market cap of $126.52 billion, a PE ratio of -223.95, a P/E/G ratio of 2.11 and a beta of 0.41. The stock has a 50 day simple moving average of $476.45 and a 200-day simple moving average of $463.71.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

About Vertex Pharmaceuticals

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.