DCF Advisers LLC Invests $5.71 Million in Vertex Pharmaceuticals Incorporated $VRTX

DCF Advisers LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,500 shares of the pharmaceutical company's stock, valued at approximately $5,712,000. Vertex Pharmaceuticals accounts for about 1.0% of DCF Advisers LLC's portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. West Family Investments Inc. bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $842,000. Knuff & Co LLC bought a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $7,097,000. NewEdge Wealth LLC acquired a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $5,616,000. Great Lakes Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $255,000. Finally, BOK Financial Private Wealth Inc. bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth $471,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. TD Cowen increased their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock 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. UBS Group boosted their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, June 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $563.50.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 1,500 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president owned 45,321 shares in the company, valued at $23,793,071.79. This represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the sale, the chief marketing officer directly owned 15,337 shares of the company's stock, valued at $7,400,102.50. This represents a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $552.06 on Thursday. The company has a 50 day simple moving average of $488.69 and a 200 day simple moving average of $464.85. The stock has a market cap of $140.11 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 2.19 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1 year low of $374.17 and a 1 year high of $553.69.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share 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 analyst estimates of $3.23 billion. During the same period last year, the business earned $4.52 EPS. The company's revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

Vertex Pharmaceuticals 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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