Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,396 shares of the pharmaceutical company’s stock after purchasing an additional 2,563 shares during the quarter. QRG Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $8,340,000 as of its most recent SEC filing.

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

Insider Activity

In other news, EVP Mark E. Bunnage sold 2,021 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total transaction of $930,529.03. Following the completion of the sale, the executive vice president owned 12,914 shares in the company, valued at approximately $5,945,993.02. This represents a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Biller sold 1,925 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $886,327.75. Following the transaction, the executive vice president directly owned 20,819 shares in the company, valued at approximately $9,585,692.17. This represents a 8.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 81,853 shares of company stock valued at $38,479,135. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.3%

NASDAQ VRTX opened at $424.36 on Wednesday. The stock has a market capitalization of $107.94 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The company has a 50 day moving average price of $452.77 and a two-hundred day moving average price of $449.59.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 24.41%. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.06 EPS. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.81 EPS for the current year.

Key Vertex Pharmaceuticals News

Here are the key news stories impacting Vertex Pharmaceuticals this week:

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research reports. HC Wainwright raised their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Wolfe Research raised Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price objective for the company in a research note on Tuesday, January 6th. Jefferies Financial Group initiated coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price on the stock. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Oppenheimer lifted their price target on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $554.83.

Read Our Latest Stock Report on Vertex Pharmaceuticals

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.

See Also

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

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