OFI Invest Asset Management Invests $2.41 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

OFI Invest Asset Management purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,196 shares of the pharmaceutical company’s stock, valued at approximately $2,410,000.

Other institutional investors also recently bought and sold shares of the company. Dunhill Financial LLC boosted its position in 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. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $33,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $39,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRTX has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Citigroup assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. Truist Financial increased their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays lifted their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Finally, Piper Sandler reduced their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $488.29 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The firm has a market capitalization of $125.39 billion, a PE ratio of -221.95, a P/E/G ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The business’s fifty day moving average price is $448.27 and its two-hundred day moving average price is $461.32.

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 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%. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 530 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the transaction, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,084 shares of company stock worth $505,512 in the last three months. 0.20% of the stock is owned by company insiders.

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.