Brooklyn Investment Group Has $1.30 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Brooklyn Investment Group increased its stake in Vertex Pharmaceuticals by 40.6%, now owning 2,680 shares worth approximately $1.30 million.
• Multiple institutional investors, including GAMMA Investing LLC and Jennison Associates LLC, have significantly increased their holdings in Vertex, with over 90% of the stock currently owned by institutional investors.
• Vertex Pharmaceuticals reported an EPS of $4.52 for the last quarter, surpassing analyst estimates, and experienced an 11.3% revenue growth year-over-year.

Brooklyn Investment Group grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 40.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,680 shares of the pharmaceutical company's stock after purchasing an additional 774 shares during the period. Brooklyn Investment Group's holdings in Vertex Pharmaceuticals were worth $1,299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of VRTX. GAMMA Investing LLC grew its position in Vertex Pharmaceuticals by 60,572.3% in the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock worth $1,175,722,000 after purchasing an additional 2,421,073 shares during the last quarter. Nuveen LLC bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth about $484,053,000. Jennison Associates LLC lifted its holdings in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after acquiring an additional 744,680 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 6,487.2% during the 4th quarter. Lazard Asset Management LLC now owns 526,119 shares of the pharmaceutical company's stock worth $211,867,000 after acquiring an additional 518,132 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company's stock worth $860,650,000 after acquiring an additional 398,460 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VRTX shares. Leerink Partnrs downgraded shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Guggenheim lowered their price objective on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Morgan Stanley set a $439.00 price objective on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 0.6%

Shares of VRTX stock opened at $392.79 on Monday. The company's fifty day simple moving average is $444.95 and its 200-day simple moving average is $464.12. The firm has a market cap of $100.71 billion, a PE ratio of 28.08 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($12.83) earnings per share. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

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