Hemenway Trust Co LLC Increases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hemenway Trust Co LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,413 shares of the pharmaceutical company’s stock after acquiring an additional 9,294 shares during the period. Vertex Pharmaceuticals comprises approximately 1.6% of Hemenway Trust Co LLC’s portfolio, making the stock its 26th biggest holding. Hemenway Trust Co LLC’s holdings in Vertex Pharmaceuticals were worth $19,899,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 57,242 shares of the pharmaceutical company’s stock valued at $26,494,000 after acquiring an additional 4,048 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Vertex Pharmaceuticals by 53.1% in the third quarter. Integrated Wealth Concepts LLC now owns 5,109 shares of the pharmaceutical company’s stock valued at $2,376,000 after purchasing an additional 1,772 shares during the last quarter. IHT Wealth Management LLC lifted its position in Vertex Pharmaceuticals by 22.6% in the third quarter. IHT Wealth Management LLC now owns 2,531 shares of the pharmaceutical company’s stock valued at $1,180,000 after purchasing an additional 467 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Vertex Pharmaceuticals by 36.2% during the third quarter. Quantinno Capital Management LP now owns 19,695 shares of the pharmaceutical company’s stock valued at $9,160,000 after purchasing an additional 5,238 shares during the period. Finally, Wellington Management Group LLP grew 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 worth $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VRTX shares. Barclays increased their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Royal Bank of Canada increased their target price on shares of Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a “sector perform” rating in a report on Tuesday. Bank of America boosted their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a report on Monday, March 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Scotiabank lifted their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $509.17.

Vertex Pharmaceuticals Stock Down 1.9 %

Shares of Vertex Pharmaceuticals stock opened at $474.62 on Friday. The company has a 50-day simple moving average of $481.54 and a two-hundred day simple moving average of $463.85. The stock has a market capitalization of $121.88 billion, a PE ratio of -215.74, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share 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%. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 244 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is owned by corporate 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.