Eurizon Capital SGR S.p.A. Makes New $35.09 Million Investment in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Eurizon Capital SGR disclosed a new position in Vertex Pharmaceuticals, buying 77,394 shares worth about $35.1 million in the fourth quarter.
• Vertex reported strong quarterly results, with EPS of $4.47 beating estimates and revenue of $2.99 billion matching expectations; revenue rose 8.3% year over year.
• Analyst sentiment remains positive overall, with 22 Buy ratings and an average price target of $555.91, even though some recent insider sales were reported.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 77,394 shares of the pharmaceutical company's stock, valued at approximately $35,086,000.

Other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC boosted its stake in shares of Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 38 shares during the period. Eagle Bay Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $29,000. IMG Wealth Management Inc. boosted its stake in shares of Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock valued at $31,000 after purchasing an additional 50 shares during the period. Ares Financial Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $33,000. Finally, Archer Investment Corp boosted its stake in shares of Vertex Pharmaceuticals by 89.7% during the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock valued at $34,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.1%

Shares of VRTX stock opened at $447.54 on Friday. The stock has a fifty day moving average of $439.06 and a 200 day moving average of $451.64. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $507.92. The firm has a market capitalization of $113.59 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.92 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm's revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.06 earnings per share. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.99 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They set a "buy" rating and a $580.00 price objective for the company. Wall Street Zen downgraded Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings raised Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $590.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Finally, Citigroup raised their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a research note on Tuesday, March 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $555.91.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president owned 20,729 shares of the company's stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 11,717 shares of company stock worth $5,309,945. 0.20% of the stock is owned by corporate insiders.

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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