GAMMA Investing LLC Invests $869,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

GAMMA Investing LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,005 shares of the pharmaceutical company’s stock, valued at approximately $869,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRTX. OFI Invest Asset Management bought a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Arlington Trust Co LLC raised its position in shares of Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares in the last quarter. Fortitude Family Office LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Baystate Wealth Management LLC increased its position in Vertex Pharmaceuticals by 49.0% during the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 25 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $34,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 1.2 %

NASDAQ VRTX traded up $4.99 on Tuesday, hitting $404.91. 1,070,081 shares of the stock were exchanged, compared to its average volume of 1,246,031. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. Vertex Pharmaceuticals Incorporated has a 52-week low of $316.43 and a 52-week high of $448.40. The firm has a market capitalization of $104.65 billion, a P/E ratio of 29.23, a P/E/G ratio of 1.86 and a beta of 0.35. The stock has a fifty day moving average price of $413.23 and a two-hundred day moving average price of $398.05.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. During the same period in the prior year, the company posted $3.33 EPS. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. HC Wainwright upped their price objective on shares of Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Wells Fargo & Company increased their target price on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Maxim Group downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Royal Bank of Canada upped their price objective on shares of Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 6th. Finally, Oppenheimer restated an “outperform” rating and set a $500.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $429.45.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the transaction, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Kristen Ambrose sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $577,409.76. Following the completion of the transaction, the chief accounting officer now owns 9,676 shares in the company, valued at approximately $4,066,242.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,381 shares of company stock worth $5,203,249. 0.20% of the stock is currently owned by insiders.

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.