Ingalls & Snyder LLC Boosts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Ingalls & Snyder LLC raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 202.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,990 shares of the pharmaceutical company’s stock after buying an additional 2,000 shares during the period. Ingalls & Snyder LLC’s holdings in Vertex Pharmaceuticals were worth $1,204,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mutual Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 0.6% during the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after acquiring an additional 21 shares in the last quarter. Outlook Wealth Advisors LLC increased its holdings in Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 892 shares of the pharmaceutical company’s stock worth $415,000 after purchasing an additional 24 shares during the period. Dunhill Financial LLC raised its position in Vertex Pharmaceuticals by 70.6% during 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 in the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 1.1% in the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock worth $900,000 after buying an additional 24 shares during the period. Finally, Oakworth Capital Inc. grew its position in shares of Vertex Pharmaceuticals by 17.6% during the 3rd quarter. Oakworth Capital Inc. now owns 167 shares of the pharmaceutical company’s stock worth $78,000 after buying an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares in the company, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 21st. Piper Sandler cut their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday. Finally, Bank of America decreased their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $505.96.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $462.58 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a market capitalization of $119.13 billion, a price-to-earnings ratio of -232.45, a PEG ratio of 1.80 and a beta of 0.41. The firm’s 50 day simple moving average is $435.70 and its 200-day simple moving average is $461.79. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly 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 4.52% and a negative return on equity of 1.91%. Analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 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.