GF Fund Management CO. LTD. Raises Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• GF Fund Management raised its stake in Vertex by 4.2% in Q4 to 65,411 shares valued at $29.655 million, and overall 90.96% of VRTX is held by hedge funds and other institutional investors.
• Sell-side analysts are largely positive with a consensus rating of "Moderate Buy" and an average price target of $555, after multiple firms recently lifted their targets (e.g., HC Wainwright $641, Oppenheimer $600).
• Company insiders have been net sellers, offloading 80,431 shares worth about $37.9 million in the past three months, leaving insiders with just 0.20% ownership.

GF Fund Management CO. LTD. grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 4.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 65,411 shares of the pharmaceutical company's stock after buying an additional 2,620 shares during the period. GF Fund Management CO. LTD.'s holdings in Vertex Pharmaceuticals were worth $29,655,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of VRTX. Brighton Jones LLC raised its holdings in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after buying an additional 579 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in Vertex Pharmaceuticals in the second quarter worth about $228,000. NewEdge Advisors LLC raised its holdings in Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company's stock worth $5,311,000 after buying an additional 986 shares during the last quarter. ICW Investment Advisors LLC raised its holdings in shares of Vertex Pharmaceuticals by 5.0% during the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company's stock valued at $269,000 after purchasing an additional 29 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company's stock valued at $3,246,000 after purchasing an additional 1,518 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VRTX shares. Stifel Nicolaus boosted their price objective on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a "hold" rating in a report on Friday, February 13th. Jefferies Financial Group started coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 10th. They set a "buy" rating and a $580.00 price objective for the company. Leerink Partners boosted their price objective on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an "outperform" rating in a report on Monday, December 29th. HC Wainwright boosted their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a "buy" rating in a report on Tuesday, March 10th. Finally, Oppenheimer boosted their price objective on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an "outperform" rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $555.00.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Jonathan Biller sold 945 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $459,600.75. Following the completion of the sale, the executive vice president directly owned 13,659 shares in the company, valued at approximately $6,643,054.65. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Kristen Ambrose sold 223 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $108,456.05. Following the sale, the chief accounting officer owned 6,981 shares of the company's stock, valued at $3,395,209.35. This trade represents a 3.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 80,431 shares of company stock valued at $37,875,167 in the last three months. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 1.3%

Shares of NASDAQ VRTX opened at $441.20 on Friday. The firm has a 50 day moving average of $461.32 and a 200 day moving average of $447.39. The firm has a market capitalization of $112.22 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $510.77.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.98 earnings per share. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals Company 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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