Shorepoint Capital Partners LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Shorepoint Capital Partners LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,810 shares of the pharmaceutical company’s stock after acquiring an additional 280 shares during the quarter. Shorepoint Capital Partners LLC’s holdings in Vertex Pharmaceuticals were worth $3,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRTX. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $1,374,948,000. Parnassus Investments LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $731,283,000. Capital World Investors raised its stake in shares of Vertex Pharmaceuticals by 5.7% during the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock worth $11,406,667,000 after buying an additional 1,514,993 shares during the last quarter. Capital Research Global Investors grew its stake in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock valued at $4,199,713,000 after acquiring an additional 1,426,746 shares during the last quarter. Finally, Edgewood Management LLC increased its holdings in Vertex Pharmaceuticals by 91.2% during the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company’s stock valued at $1,190,626,000 after acquiring an additional 1,410,238 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price target for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Bank of America upped their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $514.91.

Insider Activity

In other news, EVP David Altshuler sold 3,231 shares of the business’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 transaction, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 530 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the sale, the executive vice president now owns 58,539 shares of the company’s stock, valued at $27,825,928.26. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 0.3 %

Shares of VRTX stock opened at $493.84 on Friday. The stock has a 50-day moving average of $489.78 and a 200-day moving average of $466.35. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The stock has a market cap of $126.81 billion, a price-to-earnings ratio of -224.47, a PEG ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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 net margin of 4.86% and a negative return on equity of 2.02%. On average, equities 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.