Summit Trail Advisors LLC Acquires 1,145 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Summit Trail Advisors LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 35.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,409 shares of the pharmaceutical company’s stock after buying an additional 1,145 shares during the period. Summit Trail Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in VRTX. Edgewood Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $435,899,000. Jennison Associates LLC lifted its stake in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after buying an additional 851,054 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Vertex Pharmaceuticals by 17.2% in the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Vertex Pharmaceuticals by 169.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after purchasing an additional 528,029 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays lowered their target price on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Piper Sandler lowered their target price on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Truist Financial lowered their target price on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Scotiabank increased their target price on shares of Vertex Pharmaceuticals from $430.00 to $433.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $502.58.

Vertex Pharmaceuticals Stock Up 0.1 %

VRTX stock opened at $469.97 on Tuesday. The firm has a 50 day moving average of $435.87 and a 200-day moving average of $462.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data 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 net margin of 4.52% and a negative return on equity of 1.91%. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current fiscal year.

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.