Legal & General Group Plc Boosts Stake in Vertex Pharmaceuticals Incorporated $VRTX

Legal & General Group Plc boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,970,105 shares of the pharmaceutical company’s stock after acquiring an additional 17,808 shares during the quarter. Legal & General Group Plc’s holdings in Vertex Pharmaceuticals were worth $893,167,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Co SC increased its stake in Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $29,000. IMG Wealth Management Inc. increased its stake in Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Ares Financial Consulting LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $33,000. Finally, Archer Investment Corp increased its stake in Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 35 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. UBS Group upped their target price on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Finally, Barclays upped their target price on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $555.17.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Joy Liu sold 1,104 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president directly owned 20,729 shares in the company, valued at approximately $8,810,239.58. This represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amit Sachdev sold 1,846 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $897,802.10. Following the completion of the transaction, the executive vice president owned 55,570 shares of the company’s stock, valued at $27,026,469.50. The trade was a 3.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,189 shares of company stock worth $9,923,036. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $434.52 on Monday. The stock has a 50-day moving average price of $441.55 and a 200-day moving average price of $451.02. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The stock has a market capitalization of $110.28 billion, a P/E ratio of 25.77, a PEG ratio of 1.86 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the business earned $4.06 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current year.

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.