Joseph Group Capital Management Purchases 750 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Joseph Group Capital Management boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,422 shares of the pharmaceutical company’s stock after acquiring an additional 750 shares during the period. Joseph Group Capital Management’s holdings in Vertex Pharmaceuticals were worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in VRTX. Norges Bank bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,374,948,000. Parnassus Investments LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth $731,283,000. WCM Investment Management LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $435,899,000. Loomis Sayles & Co. L P increased its holdings in shares of Vertex Pharmaceuticals by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock valued at $1,519,302,000 after acquiring an additional 704,575 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of 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 worth $2,231,858,000 after acquiring an additional 704,421 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 2.0 %

NASDAQ VRTX opened at $492.69 on Friday. The company has a fifty day moving average of $476.45 and a 200 day moving average of $463.71. The company has a market capitalization of $126.52 billion, a PE ratio of -223.95, 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. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88.

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%. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VRTX shares. HC Wainwright reaffirmed a “buy” rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Royal Bank of Canada lifted their price objective on shares of Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Bank of America decreased their target price on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of the firm’s 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 sale, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals 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.