LGT Group Foundation Boosts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• LGT Group Foundation significantly increased its stake in Vertex Pharmaceuticals by 45.2% during the first quarter, owning 3,388 shares valued at approximately $1.64 million.
• Analysts have mixed views on Vertex Pharmaceuticals, with thirteen analysts rating it a "buy" while others maintain a "hold" rating, reflecting a consensus of a Moderate Buy rating with an average target price of $497.10.
• Insider activity includes Director Bruce I. Sachs buying 5,000 shares of the stock, increasing his ownership by 12.5%, which indicates confidence in the company's future performance.

LGT Group Foundation increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 45.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,388 shares of the pharmaceutical company's stock after purchasing an additional 1,054 shares during the period. LGT Group Foundation's holdings in Vertex Pharmaceuticals were worth $1,643,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd increased its holdings in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $31,000. Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $40,000. Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $44,000. Finally, SJS Investment Consulting Inc. increased its holdings in Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on VRTX shares. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Stifel Nicolaus lowered their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $497.10.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs bought 5,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $387.77 on Wednesday. The company has a 50-day moving average of $448.18 and a 200-day moving average of $464.96. The company has a market capitalization of $99.42 billion, a P/E ratio of 27.72 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88.

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

Vertex Pharmaceuticals 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.

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