TKG Advisors LLC Raises Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

TKG Advisors LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 99.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,247 shares of the pharmaceutical company’s stock after purchasing an additional 623 shares during the period. TKG Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Vertex Pharmaceuticals by 0.8% during the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock worth $5,495,501,000 after purchasing an additional 90,173 shares during the period. Jennison Associates LLC grew its holdings in shares of Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares in the last quarter. Wellington Management Group LLP raised its holdings in Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after acquiring an additional 704,421 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Vertex Pharmaceuticals by 5.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after buying an additional 159,693 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Vertex Pharmaceuticals by 4.1% in the third quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after acquiring an additional 100,114 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VRTX shares. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Citigroup assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price target for the company. Bank of America dropped their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research report on Thursday, January 30th. Finally, William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $505.57.

Vertex Pharmaceuticals Stock Up 0.7 %

VRTX stock opened at $462.11 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 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 business has a 50 day simple moving average of $435.25 and a 200-day simple moving average of $460.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current 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.