May Hill Capital LLC Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

May Hill Capital LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 648 shares of the pharmaceutical company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its holdings in Vertex Pharmaceuticals by 2.2% in the 3rd quarter. Captrust Financial Advisors now owns 14,409 shares of the pharmaceutical company’s stock valued at $6,701,000 after buying an additional 307 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Vertex Pharmaceuticals by 4,913.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,668 shares of the pharmaceutical company’s stock valued at $3,101,000 after acquiring an additional 6,535 shares during the period. Hilltop Holdings Inc. raised its position in Vertex Pharmaceuticals by 359.5% in the third quarter. Hilltop Holdings Inc. now owns 3,143 shares of the pharmaceutical company’s stock valued at $1,462,000 after purchasing an additional 2,459 shares during the period. HighTower Advisors LLC lifted its stake in Vertex Pharmaceuticals by 7.6% during the third quarter. HighTower Advisors LLC now owns 57,242 shares of the pharmaceutical company’s stock worth $26,494,000 after purchasing an additional 4,048 shares in the last quarter. Finally, Harmony Asset Management LLC boosted its position in shares of Vertex Pharmaceuticals by 12.7% during the third quarter. Harmony Asset Management LLC now owns 6,917 shares of the pharmaceutical company’s stock worth $3,217,000 after buying an additional 777 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VRTX shares. Wells Fargo & Company downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a report on Thursday, January 30th. JPMorgan Chase & Co. reduced their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their target price for the stock from $500.00 to $550.00 in a report on Monday, December 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.17.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 64,021 shares in the company, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $484.74 on Wednesday. The stock has a market cap of $124.48 billion, a P/E ratio of -220.34, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The stock has a 50 day moving average of $478.85 and a two-hundred day moving average of $463.67. 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 (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 4.86% and a negative return on equity of 2.02%. On average, research analysts forecast 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.