Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Groupama Asset Managment

Groupama Asset Managment increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,479 shares of the pharmaceutical company’s stock after buying an additional 9,149 shares during the period. Groupama Asset Managment’s holdings in Vertex Pharmaceuticals were worth $17,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,374,948,000. Parnassus Investments LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $731,283,000. Wellington Management Group LLP increased its stake in Vertex Pharmaceuticals by 23.3% during the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock worth $2,382,407,000 after buying an additional 1,117,214 shares during the period. WCM Investment Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter worth $435,899,000. Finally, Loomis Sayles & Co. L P boosted its position in Vertex Pharmaceuticals by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock valued at $1,519,302,000 after buying an additional 704,575 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock worth $2,121,012 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Piper Sandler cut their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Bank of America raised their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a report on Monday. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $508.65.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $484.82 on Tuesday. The firm’s 50 day moving average is $477.71 and its two-hundred day moving average is $463.68. The firm has a market capitalization of $124.50 billion, a P/E ratio of -220.37, a PEG ratio of 2.11 and a beta of 0.41. 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 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results 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%. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.