366,854 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Life Cycle Investment Partners Ltd

Key Points

• Life Cycle Investment Partners disclosed a new stake in Vertex Pharmaceuticals, buying 366,854 shares valued at about $166.3 million. The position represents roughly 1.2% of the fund’s portfolio.
• Vertex’s latest quarterly results topped EPS expectations, reporting $4.47 per share versus $4.24 expected, while revenue came in line at $2.99 billion. Revenue also rose 8.3% year over year.
• Analyst sentiment remains positive overall, with Vertex carrying a Moderate Buy consensus and an average price target of $555.17. However, recent insider activity included multiple share sales, and insiders now own just 0.20% of the company.

Life Cycle Investment Partners Ltd bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 366,854 shares of the pharmaceutical company's stock, valued at approximately $166,317,000. Vertex Pharmaceuticals accounts for approximately 1.2% of Life Cycle Investment Partners Ltd's portfolio, making the stock its 22nd largest holding. Life Cycle Investment Partners Ltd owned about 0.14% of Vertex Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Colonial Trust Co SC grew its holdings in Vertex Pharmaceuticals by 118.8% during the third 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 period. Eagle Bay Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $29,000. IMG Wealth Management Inc. grew its holdings in Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock valued at $31,000 after purchasing an additional 50 shares during the period. Ares Financial Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $33,000. Finally, Archer Investment Corp grew its holdings in Vertex Pharmaceuticals by 89.7% in the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock valued at $34,000 after purchasing an additional 35 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Edward Morrow Atkinson III sold 668 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $324,881.80. Following the transaction, the executive vice president owned 18,432 shares in the company, valued at approximately $8,964,403.20. This trade represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The stock was 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. The trade was a 6.07% 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. Over the last three months, insiders sold 21,189 shares of company stock valued at $9,923,036. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. HC Wainwright raised their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a "buy" rating in a report on Tuesday, March 10th. Jefferies Financial Group assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a "buy" rating and a $580.00 price objective on the stock. Canaccord Genuity Group dropped their price objective on Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating on the stock in a report on Tuesday, May 5th. Scotiabank raised their price objective on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Finally, Stifel Nicolaus raised their price objective on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a "hold" rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $555.17.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $434.52 on Friday. The business's 50 day moving average price is $441.55 and its 200-day moving average price is $450.85. The firm has a market capitalization of $110.28 billion, a PE ratio of 25.77, a P/E/G ratio of 1.86 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business's revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $4.06 earnings per share. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current year.

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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