Leonteq Securities AG Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Leonteq Securities AG disclosed a new fourth-quarter stake in Vertex Pharmaceuticals, buying 5,026 shares worth about $2.28 million.
• Vertex reported strong quarterly results, with EPS of $4.47 beating estimates and revenue of $2.99 billion matching expectations, while revenue rose 8.3% year over year.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus and an average price target of $555.17, even as some insiders sold shares recently.

Leonteq Securities AG purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,026 shares of the pharmaceutical company's stock, valued at approximately $2,279,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Princeton Capital Management LLC raised its stake in shares of Vertex Pharmaceuticals by 0.5% during the fourth quarter. Princeton Capital Management LLC now owns 14,509 shares of the pharmaceutical company's stock valued at $6,578,000 after purchasing an additional 71 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Vertex Pharmaceuticals by 34.9% during the fourth quarter. IFP Advisors Inc now owns 3,082 shares of the pharmaceutical company's stock valued at $1,397,000 after purchasing an additional 797 shares in the last quarter. Midwest Professional Planners LTD. raised its stake in shares of Vertex Pharmaceuticals by 0.8% during the fourth quarter. Midwest Professional Planners LTD. now owns 3,524 shares of the pharmaceutical company's stock valued at $1,598,000 after purchasing an additional 28 shares in the last quarter. Atle Fund Management AB raised its stake in shares of Vertex Pharmaceuticals by 29.4% during the fourth quarter. Atle Fund Management AB now owns 22,984 shares of the pharmaceutical company's stock valued at $10,420,000 after purchasing an additional 5,218 shares in the last quarter. Finally, Intrust Bank NA raised its stake in shares of Vertex Pharmaceuticals by 6.5% during the fourth quarter. Intrust Bank NA now owns 3,473 shares of the pharmaceutical company's stock valued at $1,575,000 after purchasing an additional 211 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Down 0.9%

Shares of Vertex Pharmaceuticals stock opened at $430.44 on Thursday. The company's 50-day moving average price is $444.02 and its two-hundred day moving average price is $450.91. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $507.92. The stock has a market cap of $109.25 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.86 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the previous year, the business earned $4.06 earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They set a "buy" rating and a $580.00 price objective on the stock. Truist Financial upgraded shares of Vertex Pharmaceuticals to a "strong-buy" rating in a research note on Monday, April 27th. Cantor Fitzgerald restated an "overweight" rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Maxim Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price objective on the stock in a research note on Wednesday, March 18th. Finally, UBS Group lifted their price objective on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a "buy" rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $555.17.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Kristen Ambrose sold 223 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $108,456.05. Following the completion of the sale, the chief accounting officer owned 6,981 shares in the company, valued at approximately $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 21,189 shares of company stock valued at $9,923,036 in the last quarter. 0.20% of the stock is owned by company 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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