Westport Asset Management Inc. purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,500 shares of the pharmaceutical company’s stock, valued at approximately $1,242,000.
A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $11,975,849,000. Capital Research Global Investors grew its position in shares of Vertex Pharmaceuticals by 4.6% in the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after buying an additional 763,063 shares during the last quarter. State Street Corp grew its position in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock worth $5,299,569,000 after buying an additional 83,539 shares during the last quarter. Capital International Investors raised its stake in shares of Vertex Pharmaceuticals by 0.9% during the 4th quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock worth $2,146,041,000 after acquiring an additional 44,537 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Vertex Pharmaceuticals by 49.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after acquiring an additional 1,109,200 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.
Vertex Pharmaceuticals Stock Up 4.5%
VRTX opened at $552.06 on Thursday. The company has a market cap of $140.11 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 2.19 and a beta of 0.30. The firm’s 50-day moving average price is $488.69 and its 200-day moving average price is $464.85. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $553.69.
Analyst Ratings Changes
A number of equities research analysts recently commented on VRTX shares. Cantor Fitzgerald increased their target price on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. UBS Group increased their price objective on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Stifel Nicolaus set a $500.00 price objective on Vertex Pharmaceuticals in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $563.50.
Check Out Our Latest Stock Analysis on VRTX
Insiders Place Their Bets
In other news, CMO Carmen Bozic sold 4,062 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the sale, the chief marketing officer directly owned 16,953 shares of the company’s stock, valued at $7,628,850. The trade was a 19.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. The trade was a 3.20% 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. Over the last quarter, insiders sold 10,464 shares of company stock valued at $4,959,397. Insiders own 0.20% of the company’s stock.
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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