Biondo Investment Advisors LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 25,145 shares of the pharmaceutical company's stock, valued at approximately $12,490,000. Vertex Pharmaceuticals makes up about 1.5% of Biondo Investment Advisors LLC's holdings, making the stock its 22nd biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Allworth Financial LP increased its holdings in Vertex Pharmaceuticals by 414.1% in the 4th quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company's stock worth $6,363,000 after acquiring an additional 11,306 shares during the last quarter. Calamos Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 77.1% during the first quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company's stock valued at $34,779,000 after purchasing an additional 33,917 shares during the last quarter. Sandro Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth about $1,436,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its position in Vertex Pharmaceuticals by 11.9% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company's stock worth $15,625,000 after purchasing an additional 3,710 shares during the period. Finally, Meiji Yasuda America Inc purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $1,911,000. Hedge funds and other institutional investors own 90.96% of the company's stock.
Insider Activity
In other news, EVP Ourania Tatsis sold 1,500 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the transaction, the executive vice president owned 45,321 shares of the company's stock, 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 document filed with the SEC, 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 stock in a transaction on 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 sale, the executive vice president owned 11,001 shares in the company, valued at $5,709,519. This trade represents 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 in the last three months. Corporate insiders own 0.20% of the company's stock.
Vertex Pharmaceuticals Stock Performance
Shares of Vertex Pharmaceuticals stock opened at $548.05 on Monday. The company's 50-day moving average price is $492.65 and its 200-day moving average price is $465.88. Vertex Pharmaceuticals Incorporated has a 12-month low of $374.17 and a 12-month high of $555.32. The company has a market cap of $139.10 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 2.27 and a beta of 0.30.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.23 billion. During the same period in the prior year, the firm posted $4.52 EPS. Vertex Pharmaceuticals's revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.
Analysts Set New Price Targets
VRTX has been the topic of several research reports. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. Cantor Fitzgerald raised their price objective on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. TD Cowen lifted their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Stifel Nicolaus set a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, August 4th. Finally, Barclays increased their target price on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $563.50.
View Our Latest Report on VRTX
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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