Ameriprise Financial Inc. Has $811.64 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Ameriprise Financial Inc. increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,015,523 shares of the pharmaceutical company’s stock after acquiring an additional 143,713 shares during the quarter. Ameriprise Financial Inc. owned about 0.78% of Vertex Pharmaceuticals worth $811,635,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in VRTX. Truvestments Capital LLC lifted its holdings in Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after purchasing an additional 23 shares during the last quarter. Simon Quick Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock valued at $900,000 after purchasing an additional 24 shares during the period. Spinnaker Trust lifted its stake in shares of Vertex Pharmaceuticals by 2.1% during the 4th quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock worth $497,000 after buying an additional 25 shares during the last quarter. Strategic Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 0.6% during the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock worth $1,807,000 after buying an additional 25 shares during the period. Finally, Moors & Cabot Inc. grew its stake in Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company’s stock valued at $1,451,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 1st. Bank of America upped their price objective on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the company a “buy” rating in a report on Monday, March 31st. Piper Sandler dropped their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. StockNews.com raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Finally, William Blair reiterated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $514.91.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $501.15 on Friday. The firm has a market capitalization of $128.84 billion, a price-to-earnings ratio of -227.80, a PEG ratio of 2.11 and a beta of 0.50. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $492.00 and its 200-day moving average price is $467.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS 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%. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 over the last three months. Company insiders own 0.20% of the company’s stock.

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.