Envestnet Asset Management Inc. Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Envestnet Asset Management Inc. increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 422,698 shares of the pharmaceutical company’s stock after buying an additional 19,630 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $170,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in VRTX. Insigneo Advisory Services LLC increased its holdings in shares of Vertex Pharmaceuticals by 5.2% in the third quarter. Insigneo Advisory Services LLC now owns 1,314 shares of the pharmaceutical company’s stock valued at $611,000 after purchasing an additional 65 shares during the period. EP Wealth Advisors LLC boosted its position in Vertex Pharmaceuticals by 5.0% in the third quarter. EP Wealth Advisors LLC now owns 5,153 shares of the pharmaceutical company’s stock valued at $2,397,000 after buying an additional 244 shares during the last quarter. National Bank of Canada FI increased its holdings in Vertex Pharmaceuticals by 125.0% in the 3rd quarter. National Bank of Canada FI now owns 230,498 shares of the pharmaceutical company’s stock worth $107,200,000 after buying an additional 128,061 shares during the period. iSAM Funds UK Ltd purchased a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $489,000. Finally, World Investment Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $24,280,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $474.62 on Monday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm 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 stock’s fifty day moving average is $481.54 and its two-hundred day moving average is $463.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

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

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Jefferies Financial Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Piper Sandler reduced their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. HC Wainwright restated a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and lifted their target price for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Ten 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 company. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $509.17.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the business’s 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 sale, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,315 shares of company stock worth $2,121,012. Insiders own 0.20% of the company’s stock.

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.