GAMMA Investing LLC Acquires 2,421,073 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

GAMMA Investing LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 60,572.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,425,070 shares of the pharmaceutical company’s stock after purchasing an additional 2,421,073 shares during the period. GAMMA Investing LLC owned 0.94% of Vertex Pharmaceuticals worth $1,175,722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $30,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $31,000. Golden State Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $37,000. Truvestments Capital LLC grew its position in shares of Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $40,000. Institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $447.09 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The stock has a market cap of $114.81 billion, a PE ratio of -203.22, a PEG ratio of 2.11 and a beta of 0.51. The company’s fifty day moving average is $470.99 and its 200 day moving average is $461.47. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the firm posted $4.76 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wolfe Research downgraded Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 7th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wall Street Zen raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $515.04.

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.