Notis McConarty Edward bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,423 shares of the pharmaceutical company’s stock, valued at approximately $4,184,000. Vertex Pharmaceuticals comprises approximately 1.8% of Notis McConarty Edward’s portfolio, making the stock its 21st biggest holding.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $11,975,849,000. Norges Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $1,440,149,000. AIGH Capital Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $26,725,000. Bank of New York Mellon Corp acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $830,842,000. Finally, Deutsche Bank AG purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $784,391,000. Institutional investors and hedge funds own 90.96% of the company’s stock.
Vertex Pharmaceuticals Trading Up 4.5%
Shares of NASDAQ VRTX opened at $552.06 on Thursday. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $553.69. The company has a market capitalization of $140.11 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 2.19 and a beta of 0.30. The business has a 50 day simple moving average of $488.69 and a 200-day simple moving average of $464.85.
Insider Buying and Selling at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president directly owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. The trade was a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,464 shares of company stock worth $4,959,397 over the last 90 days. Insiders own 0.20% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on VRTX shares. Barclays raised their price target on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Truist Financial increased their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group raised their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Cantor Fitzgerald boosted their target price on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $563.50.
View Our Latest Stock Report on VRTX
Vertex Pharmaceuticals 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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