2,486,038 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by AIGH Capital Management LLC

AIGH Capital Management LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,486,038 shares of the pharmaceutical company's stock, valued at approximately $26,725,000. Vertex Pharmaceuticals comprises 1.7% of AIGH Capital Management LLC's portfolio, making the stock its 9th largest position. AIGH Capital Management LLC owned 0.98% of Vertex Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $1,440,149,000. Bank of New York Mellon Corp acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth $830,842,000. Victory Capital Management Inc. increased its holdings in shares of Vertex Pharmaceuticals by 49.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company's stock worth $1,521,851,000 after purchasing an additional 1,109,200 shares during the period. Capital Research Global Investors increased its holdings in shares of Vertex Pharmaceuticals by 4.6% during the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company's stock worth $7,850,544,000 after purchasing an additional 763,063 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $166,317,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $505.75 on Monday. Vertex Pharmaceuticals Incorporated has a 1-year low of $374.17 and a 1-year high of $546.17. The business's 50 day moving average is $483.26 and its 200-day moving average is $463.67. The firm has a market cap of $128.36 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.09 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.Vertex Pharmaceuticals's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.52 EPS. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the sale, the executive vice president owned 45,321 shares of the company's stock, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the sale, the executive vice president directly owned 11,001 shares of the company's stock, valued at approximately $5,709,519. The trade was a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,464 shares of company stock worth $4,959,397 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Barclays increased their target price on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald upped their price target on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a "hold" rating in a research report on Tuesday, August 4th. Stifel Nicolaus set a $500.00 price objective on Vertex Pharmaceuticals in a report on Tuesday, August 4th. Finally, Wall Street Zen cut Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $563.50.

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.

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