HighTower Advisors LLC Increases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• HighTower Advisors LLC increased its stake in Vertex Pharmaceuticals by 10.6%, bringing its total holdings to 53,625 shares valued at approximately $26 million.
• Vertex Pharmaceuticals reported earnings of $4.52 EPS for the last quarter, exceeding analysts' expectations of $4.24, with revenue totaling $2.94 billion.
• Analyst ratings for Vertex Pharmaceuticals show a consensus of "Moderate Buy" with an average price target of $497.10, following recent upgrades and downgrades from various brokerages.

HighTower Advisors LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 53,625 shares of the pharmaceutical company's stock after purchasing an additional 5,139 shares during the quarter. HighTower Advisors LLC's holdings in Vertex Pharmaceuticals were worth $25,999,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Capital World Investors grew its position in Vertex Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company's stock valued at $11,406,667,000 after acquiring an additional 1,514,993 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock worth $11,388,985,000 after buying an additional 232,873 shares during the period. Capital Research Global Investors lifted its holdings in shares of Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company's stock worth $4,199,713,000 after buying an additional 1,426,746 shares during the period. Jennison Associates LLC lifted its holdings in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after buying an additional 744,680 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Vertex Pharmaceuticals by 12.6% in the 4th quarter. Janus Henderson Group PLC now owns 2,833,889 shares of the pharmaceutical company's stock worth $1,141,277,000 after buying an additional 317,058 shares during the period. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VRTX. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Royal Bank Of Canada lowered their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Canaccord Genuity Group lowered their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research note on Wednesday, August 6th. Finally, Leerink Partnrs cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded up $2.49 during trading on Friday, reaching $392.79. The stock had a trading volume of 1,408,302 shares, compared to its average volume of 2,363,952. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The company has a market cap of $100.71 billion, a P/E ratio of 28.08 and a beta of 0.44. The business's 50-day moving average price is $444.95 and its 200-day moving average price is $463.94.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The firm had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same period in the previous year, the firm posted ($12.83) EPS. Vertex Pharmaceuticals's revenue for the quarter was up 11.3% on a year-over-year basis. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Company 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.