Longbow Finance SA Has $9.14 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Longbow Finance SA lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 240.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,699 shares of the pharmaceutical company’s stock after acquiring an additional 16,028 shares during the quarter. Vertex Pharmaceuticals makes up 1.0% of Longbow Finance SA’s investment portfolio, making the stock its 27th biggest holding. Longbow Finance SA’s holdings in Vertex Pharmaceuticals were worth $9,141,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of VRTX. NorthCrest Asset Manangement LLC lifted its holdings in shares of Vertex Pharmaceuticals by 15.3% during the third quarter. NorthCrest Asset Manangement LLC now owns 1,418 shares of the pharmaceutical company’s stock worth $660,000 after purchasing an additional 188 shares during the period. Arkadios Wealth Advisors bought a new stake in Vertex Pharmaceuticals during the third quarter valued at $312,000. PFG Investments LLC boosted its position in Vertex Pharmaceuticals by 1.8% during the third quarter. PFG Investments LLC now owns 1,773 shares of the pharmaceutical company’s stock valued at $825,000 after acquiring an additional 31 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in Vertex Pharmaceuticals by 64.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 102 shares of the pharmaceutical company’s stock worth $47,000 after acquiring an additional 40 shares during the period. Finally, Cavalier Investments LLC raised its position in shares of Vertex Pharmaceuticals by 6.0% in the 3rd quarter. Cavalier Investments LLC now owns 7,297 shares of the pharmaceutical company’s stock worth $3,394,000 after acquiring an additional 414 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In other news, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.5 %

VRTX stock opened at $481.65 on Tuesday. The stock’s fifty day simple moving average is $436.32 and its two-hundred day simple moving average is $460.68. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The stock has a market cap of $123.68 billion, a P/E ratio of -218.93, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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 return on equity of 2.02% and a negative net margin of 4.86%. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the topic of several research analyst reports. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Scotiabank lifted their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Barclays lifted their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Piper Sandler decreased their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $506.70.

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.