Joseph Group Capital Management Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Joseph Group Capital Management increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,422 shares of the pharmaceutical company’s stock after purchasing an additional 750 shares during the period. Joseph Group Capital Management’s holdings in Vertex Pharmaceuticals were worth $2,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Norges Bank bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $1,374,948,000. Parnassus Investments LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $731,283,000. WCM Investment Management LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $435,899,000. Loomis Sayles & Co. L P raised its position in Vertex Pharmaceuticals by 23.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock worth $1,519,302,000 after acquiring an additional 704,575 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after acquiring an additional 704,421 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 2.0 %

Shares of NASDAQ VRTX opened at $492.69 on Friday. 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’s 50-day moving average price is $476.45 and its 200-day moving average price is $463.71. The stock has a market capitalization of $126.52 billion, a price-to-earnings ratio of -223.95, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Truist Financial increased their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $506.70.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the company’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 directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock valued at $2,121,012 over the last three months. 0.20% of the stock is owned by company insiders.

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.