Cibc World Markets Corp Buys 5,665 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cibc World Markets Corp grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,339 shares of the pharmaceutical company’s stock after purchasing an additional 5,665 shares during the quarter. Cibc World Markets Corp’s holdings in Vertex Pharmaceuticals were worth $18,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. ABC Arbitrage SA acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at $1,510,000. Czech National Bank raised its position in shares of Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock worth $22,486,000 after acquiring an additional 3,260 shares in the last quarter. Highview Capital Management LLC DE boosted its position in shares of Vertex Pharmaceuticals by 1.8% during the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after purchasing an additional 102 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $662,000. Finally, Davidson Investment Advisors increased its holdings in Vertex Pharmaceuticals by 26.0% in the fourth quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after purchasing an additional 12,631 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of a number of research analyst reports. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their price target on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Truist Financial upped their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $506.70.

Vertex Pharmaceuticals Stock Up 1.8 %

VRTX stock opened at $513.76 on Tuesday. The stock has a market cap of $131.93 billion, a P/E ratio of -233.53, a P/E/G ratio of 2.11 and a beta of 0.41. 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 stock’s fifty day simple moving average is $459.97 and its two-hundred day simple moving average is $461.84. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results 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%. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction dated 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 in the company, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock worth $2,121,012 in the last quarter. Insiders own 0.20% of the company’s stock.

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.