Corient IA LLC Invests $339,000 in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Corient IA LLC invested approximately $339,000 in Vertex Pharmaceuticals by acquiring 700 shares in the first quarter, according to its recent SEC filing.
• Director Bruce I. Sachs purchased 5,000 shares of Vertex at an average cost of $389.68 per share, increasing his ownership by 12.5% to a total of 45,000 shares valued at about $17.5 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding analysts' expectations, with a revenue of $2.94 billion, reflecting an 11.3% year-over-year increase.

Corient IA LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 700 shares of the pharmaceutical company's stock, valued at approximately $339,000.

Several other hedge funds have also recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd grew its position in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $40,000. Minot DeBlois Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $44,000. Finally, SJS Investment Consulting Inc. raised its holdings in Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Insider Activity

In related news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 0.6%

NASDAQ VRTX opened at $392.79 on Monday. The stock has a market capitalization 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. The company has a 50 day moving average price of $444.95 and a two-hundred day moving average price of $464.12.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.28. The business had revenue of $2.94 billion during 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%. Vertex Pharmaceuticals's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($12.83) EPS. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research report on Wednesday, August 6th. Guggenheim lowered their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Thirteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $497.10.

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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