Norden Group LLC Invests $250,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Norden Group LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 615 shares of the pharmaceutical company’s stock, valued at approximately $250,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sherbrooke Park Advisers LLC boosted its stake in shares of Vertex Pharmaceuticals by 65.3% during the third quarter. Sherbrooke Park Advisers LLC now owns 2,645 shares of the pharmaceutical company’s stock worth $920,000 after buying an additional 1,045 shares during the period. Telos Capital Management Inc. raised its stake in Vertex Pharmaceuticals by 1.6% during the 4th quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock valued at $6,133,000 after acquiring an additional 237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Vertex Pharmaceuticals by 1.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 427,001 shares of the pharmaceutical company’s stock worth $148,485,000 after acquiring an additional 5,514 shares during the period. Machina Capital S.A.S. acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $816,000. Finally, Morgan Stanley grew its stake in shares of Vertex Pharmaceuticals by 3.2% in the 3rd quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock valued at $998,050,000 after purchasing an additional 89,217 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the business’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 value of $150,697.80. Following the completion of the sale, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now owns 74,364 shares in the company, valued at approximately $31,250,727.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 354 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the transaction, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,381 shares of company stock worth $5,203,249. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.4 %

Shares of VRTX stock opened at $402.14 on Thursday. The stock has a 50-day simple moving average of $410.17 and a 200 day simple moving average of $399.54. The stock has a market capitalization of $103.94 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.85 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $320.01 and a fifty-two week high of $448.40. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm posted $3.33 earnings per share. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VRTX. Sanford C. Bernstein downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Friday, February 2nd. Canaccord Genuity Group reissued a “sell” rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. Robert W. Baird downgraded shares of Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective for the company. in a research report on Wednesday, January 31st. Oppenheimer reiterated an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Finally, StockNews.com downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $429.45.

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.