ExodusPoint Capital Management LP Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

ExodusPoint Capital Management LP purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 22,794 shares of the pharmaceutical company’s stock, valued at approximately $9,179,000.

Other hedge funds have also recently modified their holdings of the company. Arete Wealth Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 50.5% in the 4th quarter. Arete Wealth Advisors LLC now owns 1,231 shares of the pharmaceutical company’s stock valued at $496,000 after purchasing an additional 413 shares during the last quarter. Motley Fool Asset Management LLC raised its position in shares of Vertex Pharmaceuticals by 15.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 13,484 shares of the pharmaceutical company’s stock valued at $5,430,000 after buying an additional 1,840 shares during the period. Nicolet Advisory Services LLC lifted its holdings in Vertex Pharmaceuticals by 9.7% in the fourth quarter. Nicolet Advisory Services LLC now owns 703 shares of the pharmaceutical company’s stock valued at $288,000 after acquiring an additional 62 shares during the last quarter. Bryce Point Capital LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $1,741,000. Finally, Columbia Asset Management increased its stake in Vertex Pharmaceuticals by 33.9% during the fourth quarter. Columbia Asset Management now owns 802 shares of the pharmaceutical company’s stock worth $323,000 after acquiring an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.9 %

VRTX opened at $474.62 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a market capitalization of $121.88 billion, a P/E ratio of -215.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. The business’s 50-day simple moving average is $481.54 and its 200-day simple moving average is $463.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Canaccord Genuity Group raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their price target for the company from $408.00 to $424.00 in a research note 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 research note on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Piper Sandler lowered their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $509.17.

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.