E Fund Management Co. Ltd. Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• E Fund Management acquired 11,455 Vertex Pharmaceuticals shares worth approximately $5.69 million in the second quarter, while institutional investors collectively own 90.96% of VRTX.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and above expectations, though adjusted EPS of $4.73 narrowly missed consensus estimates.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $563.50; however, insiders sold 10,464 shares worth about $4.96 million over the past three months.

E Fund Management Co. Ltd. acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,455 shares of the pharmaceutical company's stock, valued at approximately $5,690,000.

A number of other large investors also recently bought and sold shares of VRTX. Bangor Savings Bank raised its stake in Vertex Pharmaceuticals by 0.4% in the second quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company's stock valued at $2,220,000 after buying an additional 20 shares during the last quarter. Earned Wealth Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company's stock worth $295,000 after acquiring an additional 21 shares during the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Vertex Pharmaceuticals by 4.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company's stock valued at $247,000 after acquiring an additional 21 shares in the last quarter. Trust Point Inc. increased its holdings in shares of Vertex Pharmaceuticals by 2.7% during the second quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company's stock valued at $394,000 after acquiring an additional 21 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. raised its position in shares of Vertex Pharmaceuticals by 1.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company's stock valued at $524,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 1,541 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were 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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the transaction, the executive vice president directly 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. 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 a total of 10,464 shares of company stock valued at $4,959,397 in the last three months. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $552.06 on Thursday. The stock's 50 day simple moving average is $488.69 and its 200-day simple moving average is $464.85. The company has a market cap of $140.11 billion, a PE ratio of 32.13, a price-to-earnings-growth 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 announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The company had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.23 billion. During the same quarter in the previous year, the business posted $4.52 EPS. The business's quarterly 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.

Analysts Set New Price Targets

VRTX has been the subject of a number of research reports. Truist Financial lifted their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Canaccord Genuity Group increased their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a "hold" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, June 28th. Barclays increased their price target on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $563.50.

About Vertex Pharmaceuticals

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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