Russell Investments Group Ltd. Increases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Russell Investments Group Ltd. grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 239,342 shares of the pharmaceutical company’s stock after purchasing an additional 9,377 shares during the period. Russell Investments Group Ltd.’s holdings in Vertex Pharmaceuticals were worth $96,325,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in VRTX. Dunhill Financial LLC grew its holdings in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Sugar Maple Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $37,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value 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 represents a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $474.62 on Friday. The stock has a market cap of $121.88 billion, a price-to-earnings ratio of -215.74, a PEG ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. 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 business has a 50 day moving average price of $481.54 and a 200 day moving average price of $463.73.

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

Analyst Upgrades and Downgrades

VRTX has been the subject of several research analyst reports. Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target for the company. in a research report on Thursday, January 30th. Piper Sandler dropped their target price 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. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and raised their price objective for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Finally, BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $509.17.

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.