Lombard Odier Asset Management Switzerland SA Invests $5.30 Million in Vertex Pharmaceuticals Incorporated $VRTX

Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,692 shares of the pharmaceutical company's stock, valued at approximately $5,301,000.

Several other institutional investors also recently bought and sold shares of VRTX. Kemnay Advisory Services Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $46,000. Captrust Financial Advisors grew its stake in Vertex Pharmaceuticals by 14.3% in the fourth quarter. Captrust Financial Advisors now owns 13,804 shares of the pharmaceutical company's stock valued at $6,258,000 after purchasing an additional 1,730 shares during the last quarter. Siemens Fonds Invest GmbH raised its holdings in Vertex Pharmaceuticals by 4.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 11,212 shares of the pharmaceutical company's stock worth $5,087,000 after purchasing an additional 470 shares in the last quarter. Peloton Wealth Strategists raised its holdings in Vertex Pharmaceuticals by 14.8% in the fourth quarter. Peloton Wealth Strategists now owns 9,040 shares of the pharmaceutical company's stock worth $4,098,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Kidder Stephen W lifted its position in shares of Vertex Pharmaceuticals by 1.3% during the fourth quarter. Kidder Stephen W now owns 12,459 shares of the pharmaceutical company's stock valued at $5,648,000 after buying an additional 161 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.6%

Shares of NASDAQ:VRTX opened at $453.17 on Wednesday. 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 $115.01 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 1.93 and a beta of 0.30. The business has a 50-day moving average price of $437.67 and a 200-day moving average price of $452.82.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share 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 company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company earned $4.06 EPS. Vertex Pharmaceuticals's quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 6,988 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the sale, the chief marketing officer directly owned 26,088 shares of the company's stock, valued at $11,739,600. This trade represents a 21.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director directly owned 4,924 shares of the company's stock, valued at $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 11,133 shares of company stock worth $4,973,106. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

VRTX has been the subject of several recent analyst reports. Jefferies Financial Group began 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 for the company. Weiss Ratings raised Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. HC Wainwright raised their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Truist Financial began coverage on Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They set a "buy" rating and a $542.00 target price on the stock. Finally, Wall Street Zen cut Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, May 30th. Twenty-two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $555.91.

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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