Nemes Rush Group LLC Purchases 142 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Nemes Rush Group LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,858 shares of the pharmaceutical company’s stock after purchasing an additional 142 shares during the quarter. Nemes Rush Group LLC’s holdings in Vertex Pharmaceuticals were worth $1,956,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Vertex Pharmaceuticals by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock worth $9,366,113,000 after purchasing an additional 98,654 shares during the last quarter. State Street Corp increased its holdings in shares of Vertex Pharmaceuticals by 0.8% in the 3rd quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock worth $5,495,501,000 after buying an additional 90,173 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Vertex Pharmaceuticals by 23.3% during the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock valued at $2,382,407,000 after purchasing an additional 1,117,214 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Vertex Pharmaceuticals by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock worth $1,519,302,000 after acquiring an additional 704,575 shares in the last quarter. Finally, Norges Bank bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth $1,374,948,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $484.82 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $124.50 billion, a P/E ratio of -220.37, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The business’s 50-day moving average is $477.71 and its 200 day moving average is $463.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly 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%. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VRTX. Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Royal Bank of Canada lifted their target price on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Finally, Oppenheimer downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $508.65.

Insider Activity

In other news, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 26,512 shares of the company’s stock, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,315 shares of company stock valued at $2,121,012. 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.