Utah Retirement Systems Acquires 100 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Utah Retirement Systems grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,903 shares of the pharmaceutical company’s stock after buying an additional 100 shares during the quarter. Utah Retirement Systems’ holdings in Vertex Pharmaceuticals were worth $17,277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. Advisory Resource Group grew its stake in shares of Vertex Pharmaceuticals by 3.2% during the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company’s stock valued at $916,000 after buying an additional 61 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Vertex Pharmaceuticals by 1,352.3% during the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company’s stock valued at $736,000 after buying an additional 1,474 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the third quarter valued at about $24,280,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $2,187,000. Finally, Destination Wealth Management boosted its holdings in shares of Vertex Pharmaceuticals by 4.5% during the third quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company’s stock worth $1,563,000 after purchasing an additional 144 shares during the period. 90.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the completion of the sale, the executive vice president now owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This trade represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,315 shares of company stock valued at $2,121,012. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their target price for the stock from $408.00 to $424.00 in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, April 22nd. Barclays increased their target price on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Scotiabank increased their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $514.91.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $503.50 on Wednesday. The company has a market capitalization of $129.44 billion, a P/E ratio of -228.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $490.74 and a 200 day moving average of $466.65. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly 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 net margin of 4.86% and a negative return on equity of 2.02%. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.