Simplify Asset Management Inc. increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 1,327.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,492 shares of the pharmaceutical company’s stock after acquiring an additional 16,267 shares during the quarter. Vertex Pharmaceuticals comprises about 0.1% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 26th largest holding. Simplify Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $7,930,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of VRTX. Colonial Trust Co SC increased its position in Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 38 shares during the period. Eagle Bay Advisors LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $29,000. IMG Wealth Management Inc. increased its position in Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 50 shares during the period. Ares Financial Consulting LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $33,000. Finally, Archer Investment Corp increased its position in Vertex Pharmaceuticals by 89.7% during the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 35 shares during the period. 90.96% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Bank of America raised their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. HC Wainwright raised their price target on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada raised their price target on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Canaccord Genuity Group lowered their price target on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research report on Tuesday, May 5th. Finally, Scotiabank raised their price target on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $555.17.
Vertex Pharmaceuticals Price Performance
VRTX stock opened at $434.52 on Monday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92. The firm has a market cap of $110.28 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.86 and a beta of 0.30. The company’s 50-day moving average price is $441.55 and its two-hundred day moving average price is $451.02.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its 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. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the firm earned $4.06 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current year.
Insider Transactions at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 4,910 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the transaction, the executive vice president directly owned 17,559 shares of the company’s stock, valued at $8,562,646.35. This trade represents a 21.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Biller sold 945 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $459,600.75. Following the completion of the transaction, the executive vice president directly owned 13,659 shares in the company, valued at approximately $6,643,054.65. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 21,189 shares of company stock worth $9,923,036. Corporate insiders own 0.20% of the company’s stock.
About Vertex Pharmaceuticals
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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