New York Life Investment Management LLC Purchases 383 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

New York Life Investment Management LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 39,060 shares of the pharmaceutical company’s stock after buying an additional 383 shares during the quarter. New York Life Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $15,729,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Dunhill Financial LLC increased its position in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $30,000. Finally, Truvestments Capital LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $35,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on VRTX. Stifel Nicolaus upped their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. Piper Sandler lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Barclays upped their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $506.70.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $479.10 on Thursday. The firm’s 50 day simple moving average is $437.18 and its 200 day simple moving average is $460.90. The firm has a market capitalization of $123.03 billion, a price-to-earnings ratio of -217.77, a P/E/G 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 1 year low of $377.85 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results 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%. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company 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.