31,281 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. bought 31,281 shares of Vertex Pharmaceuticals in the fourth quarter, a position valued at about $14.2 million.
• Vertex shares were down 0.5% on Wednesday, opening at $434.31, while the company still carries a large market cap of $110.23 billion.
• The company posted solid quarterly results, with EPS of $4.47 beating estimates and revenue of $2.99 billion matching expectations; analysts remain bullish with a Moderate Buy consensus and average target of $555.17.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,281 shares of the pharmaceutical company's stock, valued at approximately $14,182,000.

A number of other institutional investors have also recently bought and sold shares of the business. Colonial Trust Co SC increased its holdings in Vertex Pharmaceuticals by 118.8% in the 3rd 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 period. Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $29,000. IMG Wealth Management Inc. increased its holdings in Vertex Pharmaceuticals by 277.8% in the 4th 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 period. Ares Financial Consulting LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $33,000. Finally, Archer Investment Corp increased its holdings in Vertex Pharmaceuticals by 89.7% in the 4th 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 period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ VRTX opened at $434.31 on Wednesday. The firm's 50-day simple moving average is $444.63 and its 200 day simple moving average is $450.83. The company has a market cap of $110.23 billion, a price-to-earnings ratio of 25.76, 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.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data 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 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 previous year, the business posted $4.06 EPS. The company's quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VRTX shares. Barclays boosted their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Maxim Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 target price on the stock in a research note on Wednesday, March 18th. Jefferies Financial Group started coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They issued a "buy" rating and a $580.00 target price on the stock. UBS Group boosted their target price on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a "buy" rating in a research note on Monday, January 26th. Finally, Oppenheimer boosted their target price on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an "outperform" rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $555.17.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 58,613 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $468.83, for a total transaction of $27,479,532.79. Following the transaction, the executive vice president directly owned 58,934 shares in the company, valued at approximately $27,630,027.22. This represents a 49.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Carmen Bozic sold 6,988 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the transaction, the chief marketing officer owned 26,088 shares in the company, valued at approximately $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 79,802 shares of company stock worth $37,402,568. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals 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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