Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% in the 3rd quarter, Holdings Channel reports. The fund owned 24,216,865 shares of the pharmaceutical company’s stock after acquiring an additional 243,088 shares during the period. Vanguard Group Inc. owned 0.09% of Vertex Pharmaceuticals worth $9,484,293,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Chesapeake Asset Management LLC increased its position in Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares during the period. Access Investment Management LLC purchased a new stake in Vertex Pharmaceuticals during the second quarter worth about $27,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth about $29,000. Total Investment Management Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter valued at about $33,000. Finally, Financial Network Wealth Advisors LLC boosted its position in Vertex Pharmaceuticals by 50.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 29 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $491.47 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The company’s 50 day simple moving average is $460.97 and its 200 day simple moving average is $427.43. The stock has a market capitalization of $124.70 billion, a PE ratio of 32.06 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.98 EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ourania Tatsis sold 466 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $214,560.38. Following the transaction, the executive vice president owned 51,436 shares in the company, valued at approximately $23,682,677.48. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark E. Bunnage sold 2,021 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total transaction of $930,529.03. Following the transaction, the executive vice president directly owned 12,914 shares in the company, valued at approximately $5,945,993.02. This trade represents a 13.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 99,352 shares of company stock valued at $45,037,314 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VRTX shares. Royal Bank Of Canada dropped their target price on shares of Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating for the company in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday. Leerink Partners increased their target price on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, December 29th. Stifel Nicolaus boosted their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a report on Friday. Finally, Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $537.05.

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.