Fideuram Asset Management Ireland dac Purchases Shares of 9,876 Vertex Pharmaceuticals Incorporated $VRTX

Fideuram Asset Management Ireland dac purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, HoldingsChannel reports. The fund purchased 9,876 shares of the pharmaceutical company’s stock, valued at approximately $4,717,000.

Other hedge funds have also modified their holdings of the company. Colonial Trust Co SC lifted its position in shares of Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 38 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $29,000. IMG Wealth Management Inc. lifted its position in shares of Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 50 shares during the last quarter. Ares Financial Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $33,000. Finally, Archer Investment Corp lifted its position in shares of Vertex Pharmaceuticals by 89.7% during the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 35 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the transaction, the director owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their position. The sale was disclosed in a filing 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, CMO Carmen Bozic sold 6,988 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the completion of the transaction, the chief marketing officer owned 26,088 shares in the company, valued at approximately $11,739,600. This trade represents a 21.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 11,717 shares of company stock worth $5,309,945. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Trading Up 2.5%

Shares of NASDAQ:VRTX opened at $447.97 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92. The company’s 50 day moving average is $439.14 and its 200 day moving average is $451.67. The company has a market cap of $113.69 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.87 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company earned $4.06 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Bank of America increased their price objective on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Truist Financial assumed coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday. They issued a “buy” rating and a $542.00 price objective for the company. HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Finally, Sanford C. Bernstein decreased their price objective on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $555.91.

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.