Lazard Asset Management LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 7.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,131 shares of the pharmaceutical company’s stock after purchasing an additional 14,181 shares during the quarter. Lazard Asset Management LLC owned about 0.08% of Vertex Pharmaceuticals worth $95,172,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Gateway Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $372,000. Blue Chip Partners LLC raised its stake in shares of Vertex Pharmaceuticals by 12.1% during the 1st quarter. Blue Chip Partners LLC now owns 1,895 shares of the pharmaceutical company’s stock worth $846,000 after buying an additional 204 shares during the period. Quadcap Wealth Management LLC lifted its holdings in Vertex Pharmaceuticals by 5.6% during the first quarter. Quadcap Wealth Management LLC now owns 1,891 shares of the pharmaceutical company’s stock valued at $844,000 after purchasing an additional 101 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in Vertex Pharmaceuticals by 21.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 18,797 shares of the pharmaceutical company’s stock valued at $8,394,000 after buying an additional 3,318 shares in the last quarter. Finally, Waverly Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 1.4% in the first quarter. Waverly Advisors LLC now owns 23,055 shares of the pharmaceutical company’s stock worth $10,295,000 after acquiring an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on VRTX. UBS Group boosted their target price on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Sanford C. Bernstein dropped their price objective on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Royal Bank Of Canada upped their price target on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Twenty-two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $559.61.
Insider Activity at Vertex Pharmaceuticals
In other news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the transaction, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. This represents a 3.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the transaction, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. This trade represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,874 shares of company stock valued at $8,707,966 in the last ninety days. 0.20% of the stock is owned by insiders.
Vertex Pharmaceuticals Trading Up 0.3%
Vertex Pharmaceuticals stock opened at $479.00 on Tuesday. The stock has a 50 day moving average of $466.62 and a two-hundred day moving average of $459.95. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $533.67. The stock has a market capitalization of $121.57 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.15 and a beta of 0.29.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.06 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share 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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