Kornitzer Capital Management Inc. KS reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 66.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 665 shares of the pharmaceutical company's stock after selling 1,308 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Vertex Pharmaceuticals were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in VRTX. Edgewood Management LLC increased its holdings in Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock valued at $719,186,000 after acquiring an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $435,899,000. Jennison Associates LLC increased its holdings in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after acquiring an additional 851,054 shares in the last quarter. Wellington Management Group LLP increased its holdings in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock valued at $2,231,858,000 after acquiring an additional 704,421 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Vertex Pharmaceuticals by 169.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company's stock valued at $338,136,000 after acquiring an additional 528,029 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.
VRTX has been the subject of several recent research reports. Royal Bank of Canada raised their target price on shares of Vertex Pharmaceuticals from $402.00 to $407.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 price target for the company. in a report on Thursday, January 30th. Truist Financial lifted their price target on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Bank of America lowered their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $505.57.
Get Our Latest Research Report on Vertex Pharmaceuticals
Shares of VRTX stock opened at $471.76 on Thursday. The stock has a market cap of $121.14 billion, a price-to-earnings ratio of -214.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The firm's 50 day moving average price is $435.32 and its two-hundred day moving average price is $460.52.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts' consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current year.
In other news, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company's stock.
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.
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