AXQ Capital LP purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,797 shares of the pharmaceutical company's stock, valued at approximately $1,389,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Community Financial Services Group LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $26,000. Motiv8 Investments LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $26,000. Elevation Wealth Partners LLC raised its holdings in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. Finally, Swiss RE Ltd. purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth $28,000. Institutional investors own 90.96% of the company's stock.
Insider Buying and Selling
In related news, EVP Ourania Tatsis sold 1,500 shares of the company's stock in a transaction on Thursday, July 2nd. The stock was 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 in the company, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the transaction, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. The trade was a 12.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,719 shares of company stock valued at $4,174,147 over the last 90 days. Company insiders own 0.20% of the company's stock.
Vertex Pharmaceuticals Stock Performance
Shares of NASDAQ:VRTX opened at $546.12 on Friday. The firm has a market cap of $138.61 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 2.42 and a beta of 0.32. The business has a 50-day simple moving average of $509.50 and a two-hundred day simple moving average of $471.47. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $560.25.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.23 billion. During the same period in the previous year, the business earned $4.52 EPS. The business's revenue was up 12.5% compared to the same quarter last year. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.
Analyst Upgrades and Downgrades
VRTX has been the topic of a number of research analyst reports. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, July 29th. Weiss Ratings cut shares of Vertex Pharmaceuticals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 25th. UBS Group lifted their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Morgan Stanley initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday. They set an "overweight" rating and a $665.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price objective on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two 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 $569.52.
Check Out Our Latest Stock Analysis on Vertex Pharmaceuticals
About Vertex Pharmaceuticals
(
Free Report)
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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Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report).
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