MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,519 shares of the pharmaceutical company’s stock, valued at approximately $4,232,000.
Several other hedge funds and other institutional investors also recently modified their holdings of VRTX. Community Financial Services Group LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $26,000. Motiv8 Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its position in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 28 shares in the last quarter. Finally, Swiss RE Ltd. purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on VRTX. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Canaccord Genuity Group upped 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. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. TD Cowen lifted their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Truist Financial boosted their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One equities research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $563.50.
Vertex Pharmaceuticals Stock Up 0.0%
Shares of NASDAQ VRTX opened at $547.55 on Friday. The firm’s 50-day moving average price is $500.28 and its 200-day moving average price is $468.15. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $555.69. The company has a market cap of $138.97 billion, a PE ratio of 31.87, a PEG ratio of 2.38 and a beta of 0.30.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the company posted $4.52 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CMO Carmen Bozic sold 596 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $482.50, for a total value of $287,570.00. Following the completion of the sale, the chief marketing officer directly owned 15,337 shares of the company’s stock, valued at $7,400,102.50. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the executive vice president owned 11,001 shares of the company’s stock, valued at $5,709,519. The trade was a 12.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is owned by corporate insiders.
About Vertex Pharmaceuticals
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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