Swiss Life Asset Management Ltd Acquires 6,045 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Swiss Life Asset Management Ltd raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 63,945 shares of the pharmaceutical company’s stock after acquiring an additional 6,045 shares during the period. Swiss Life Asset Management Ltd’s holdings in Vertex Pharmaceuticals were worth $25,043,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of VRTX. Hohimer Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock worth $945,000 after purchasing an additional 26 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in Vertex Pharmaceuticals by 1.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock worth $565,000 after purchasing an additional 26 shares during the last quarter. Quent Capital LLC raised its position in Vertex Pharmaceuticals by 5.5% during the 3rd quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock worth $196,000 after purchasing an additional 26 shares during the last quarter. Washington Trust Advisors Inc. lifted its holdings in Vertex Pharmaceuticals by 8.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 26 shares during the period. Finally, Defined Wealth Management LLC lifted its holdings in Vertex Pharmaceuticals by 3.0% during the 3rd quarter. Defined Wealth Management LLC now owns 932 shares of the pharmaceutical company’s stock worth $365,000 after buying an additional 27 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 2.4%

Shares of Vertex Pharmaceuticals stock opened at $451.59 on Thursday. The business has a 50-day moving average price of $469.60 and a two-hundred day moving average price of $439.57. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $515.67. The company has a market cap of $114.72 billion, a P/E ratio of 29.46, a PEG ratio of 1.97 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm earned $3.98 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several recent research reports. Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target for the company in a research note on Wednesday. HC Wainwright lifted their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada reduced their target price on Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. UBS Group increased their target price on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Wolfe Research upgraded shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target for the company in a report on Tuesday, January 6th. Twenty-four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $554.30.

Insiders Place Their Bets

In other news, EVP Amit Sachdev sold 1,846 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $897,802.10. Following the completion of the sale, the executive vice president owned 55,570 shares of the company’s stock, valued at $27,026,469.50. This trade represents a 3.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ourania Tatsis sold 260 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $126,451.00. Following the completion of the sale, the executive vice president owned 46,763 shares of the company’s stock, valued at $22,743,185.05. This represents a 0.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 93,485 shares of company stock valued at $43,967,586 in the last 90 days. Company insiders own 0.20% of the company’s stock.

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.