Korea Investment CORP Makes New $105.96 Million Investment in Vertex Pharmaceuticals Incorporated $VRTX

Korea Investment CORP purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 213,312 shares of the pharmaceutical company’s stock, valued at approximately $105,958,000. Korea Investment CORP owned about 0.08% of Vertex Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in VRTX. Brighton Jones LLC lifted its stake in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $228,000. NewEdge Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after buying an additional 986 shares during the period. ICW Investment Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 5.0% during the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock valued at $269,000 after acquiring an additional 29 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its stake in shares of Vertex Pharmaceuticals by 26.3% in the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after purchasing an additional 1,518 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 1,500 shares of the business’s 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 sale, the executive vice president owned 45,321 shares of the company’s stock, valued at $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. The transaction 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, CMO Carmen Bozic sold 596 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the sale, the chief marketing officer owned 15,337 shares in the company, valued at approximately $7,400,102.50. This trade represents a 3.74% decrease in their position. 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 10,464 shares of company stock valued at $4,959,397 in the last three months. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Up 1.4%

VRTX opened at $548.05 on Friday. The stock has a market cap of $139.10 billion, a PE ratio of 31.90, a PEG ratio of 2.24 and a beta of 0.30. The business has a 50 day moving average of $492.65 and a 200-day moving average of $465.92. Vertex Pharmaceuticals Incorporated has a 52 week low of $374.17 and a 52 week high of $555.32.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.Vertex Pharmaceuticals’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.52 earnings per share. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group upped their price target on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Truist Financial raised their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Cantor Fitzgerald lifted their price target on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Canaccord Genuity Group boosted their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. One investment 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $563.50.

Get Our Latest Report on VRTX

Vertex Pharmaceuticals Profile

(Free Report)

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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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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