abrdn plc Raises Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

abrdn plc increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 196.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 581,018 shares of the pharmaceutical company’s stock after purchasing an additional 384,730 shares during the period. abrdn plc owned approximately 0.23% of Vertex Pharmaceuticals worth $236,410,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals by 1.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after purchasing an additional 24 shares during the last quarter. Arthur M. Cohen & Associates LLC boosted its holdings in Vertex Pharmaceuticals by 3.2% in the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock worth $326,000 after purchasing an additional 25 shares during the period. Baystate Wealth Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 25 shares during the period. Arjuna Capital lifted its position in shares of Vertex Pharmaceuticals by 0.7% in the 3rd quarter. Arjuna Capital now owns 4,375 shares of the pharmaceutical company’s stock worth $1,521,000 after buying an additional 29 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its holdings in shares of Vertex Pharmaceuticals by 2.9% in the 4th quarter. Ingalls & Snyder LLC now owns 1,033 shares of the pharmaceutical company’s stock valued at $420,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The transaction was disclosed in a legal 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 on 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 completion of the sale, the chief operating officer now owns 75,718 shares of the company’s stock, valued at $31,819,732.32. The disclosure for this sale can be found here. Insiders have sold a total of 12,381 shares of company stock worth $5,203,249 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.2 %

Shares of NASDAQ:VRTX traded up $0.80 on Friday, reaching $394.28. The company had a trading volume of 1,342,138 shares, compared to its average volume of 864,761. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $101.91 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.85 and a beta of 0.35. The stock has a 50-day moving average price of $413.60 and a 200 day moving average price of $397.06. Vertex Pharmaceuticals Incorporated has a twelve month low of $316.43 and a twelve month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business earned $3.33 earnings per share. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VRTX shares. Barclays raised their target price on shares of Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Royal Bank of Canada boosted their price objective on Vertex Pharmaceuticals from $397.00 to $420.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 6th. Sanford C. Bernstein lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their target price on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, Guggenheim upped their price target on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $429.45.

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.