Leonteq Securities AG acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 5,026 shares of the pharmaceutical company’s stock, valued at approximately $2,279,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Vertex Pharmaceuticals by 3.8% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company’s stock worth $213,435,000 after buying an additional 20,053 shares during the period. Danske Bank A S acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $64,417,000. Leuthold Group LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $5,030,000. Legacy Capital Group California Inc. purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $956,000. Finally, ING Groep NV purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $4,695,000. Institutional investors and hedge funds own 90.96% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research note on Tuesday, May 5th. Stifel Nicolaus lifted their target price on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Citigroup lifted their target price on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. UBS Group lifted their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, HC Wainwright lifted their target price on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.17.
Insiders Place Their Bets
In related news, EVP Joy Liu sold 1,104 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. The trade was a 5.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Kristen Ambrose sold 223 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $108,456.05. Following the completion of the sale, the chief accounting officer directly owned 6,981 shares of the company’s stock, valued at approximately $3,395,209.35. The trade was a 3.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,189 shares of company stock worth $9,923,036 in the last quarter. Corporate insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Stock Performance
Shares of NASDAQ VRTX opened at $430.44 on Thursday. The stock has a market cap of $109.25 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.86 and a beta of 0.30. The business has a 50 day simple moving average of $444.02 and a 200 day simple moving average of $450.91. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $507.92.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.06 EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current year.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.
Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.
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