IFM Investors Pty Ltd raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,070 shares of the pharmaceutical company’s stock after buying an additional 1,290 shares during the period. IFM Investors Pty Ltd’s holdings in Vertex Pharmaceuticals were worth $22,805,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Earned Wealth Advisors LLC increased its position in Vertex Pharmaceuticals by 3.3% during the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after purchasing an additional 21 shares during the period. Confluence Wealth Services Inc. lifted its position in shares of Vertex Pharmaceuticals by 4.0% in the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after purchasing an additional 21 shares during the period. Williams Jones Wealth Management LLC. lifted its position in shares of Vertex Pharmaceuticals by 1.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after purchasing an additional 21 shares during the period. Childress Capital Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 3.1% in the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after purchasing an additional 22 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Vertex Pharmaceuticals by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock valued at $2,279,000 after purchasing an additional 24 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.
Insider Transactions at Vertex Pharmaceuticals
In other news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director directly owned 4,924 shares in the company, valued at $2,086,446.52. This trade represents a 6.07% decrease in their position. The sale was disclosed in a 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 Joy Liu sold 1,104 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were 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 directly owned 20,729 shares of the company’s stock, valued at $8,810,239.58. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,833 shares of company stock valued at $7,120,702 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.
Vertex Pharmaceuticals Stock Down 0.6%
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the company posted $4.06 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on VRTX. Morgan Stanley lifted their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target for the company in a report on Wednesday, March 18th. Bank of America lifted their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Truist Financial began coverage on Vertex Pharmaceuticals in a research note on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They set a “buy” rating and a $580.00 target price on the stock. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $555.91.
Get Our Latest Stock Report on VRTX
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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