Groesbeck Investment Management Corp NJ Boosts Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Groesbeck Investment Management Corp NJ boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,773 shares of the pharmaceutical company’s stock after buying an additional 300 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Vertex Pharmaceuticals were worth $721,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of VRTX. OFI Invest Asset Management purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $25,000. Arlington Trust Co LLC increased its position in shares of Vertex Pharmaceuticals by 97.1% during the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 33 shares during the last quarter. Compass Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $29,000. Fortitude Family Office LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Finally, Baystate Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals by 49.0% during the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX traded up $0.34 during mid-day trading on Thursday, hitting $393.44. 285,133 shares of the stock were exchanged, compared to its average volume of 1,236,055. The company has a market cap of $101.69 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 1.84 and a beta of 0.35. Vertex Pharmaceuticals Incorporated has a 52-week low of $316.43 and a 52-week high of $448.40. The firm has a 50-day moving average of $414.76 and a two-hundred day moving average of $396.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.85 by $0.35. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. During the same period in the prior year, the firm earned $3.33 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VRTX shares. Truist Financial upped their price target on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group lowered shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and upped their price target for the company from $332.00 to $379.00 in a research report on Wednesday, January 24th. Canaccord Genuity Group reaffirmed a “sell” rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $429.45.

Insider Activity at Vertex Pharmaceuticals

In other news, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the transaction, the chief operating officer now owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Kristen Ambrose sold 1,374 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $577,409.76. Following the sale, the chief accounting officer now owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stuart A. Arbuckle sold 4,295 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,804,930.80. Following the sale, the chief operating officer now directly owns 75,718 shares in the company, valued at approximately $31,819,732.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,381 shares of company stock worth $5,203,249. Company 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.