MUFG Securities EMEA plc Purchases 5,494 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• MUFG Securities EMEA plc more than doubled its Vertex Pharmaceuticals stake in the fourth quarter, buying 5,494 additional shares and bringing its total holdings to 10,401 shares valued at about $4.7 million.
• Vertex posted solid first-quarter results, with earnings per share of $4.47 beating estimates and revenue of $2.99 billion matching expectations; revenue also rose 8.3% year over year.
• Wall Street remains broadly positive on Vertex, with 22 analysts rating it a Buy and a consensus price target of $555.91, even as some insiders recently sold shares under pre-arranged trading plans.

MUFG Securities EMEA plc raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 112.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,401 shares of the pharmaceutical company's stock after buying an additional 5,494 shares during the period. MUFG Securities EMEA plc's holdings in Vertex Pharmaceuticals were worth $4,715,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Colonial Trust Co SC boosted its position in Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 38 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $29,000. IMG Wealth Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Ares Financial Consulting LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $33,000. Finally, Archer Investment Corp boosted its position in shares of Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock worth $34,000 after purchasing an additional 35 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

VRTX opened at $447.54 on Monday. The business's 50-day moving average price is $439.06 and its two-hundred day moving average price is $451.85. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $507.92. The company has a market capitalization of $113.59 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.92 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the business posted $4.06 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent research reports. Truist Financial initiated coverage on Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They issued a "buy" rating and a $542.00 price target on the stock. Sanford C. Bernstein reduced their price target on Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 5th. Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price target on the stock in a research report on Wednesday, March 18th. Citigroup raised their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Finally, Royal Bank Of Canada raised their price target on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $555.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the sale, the executive vice president owned 20,729 shares of the company's stock, valued at $8,810,239.58. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the sale, the chief marketing officer directly owned 26,088 shares in the company, valued at $11,739,600. This represents a 21.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,717 shares of company stock valued at $5,309,945 in the last 90 days. 0.20% of the stock is currently 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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