National Pension Service Grows Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• The National Pension Service increased its stake in Vertex Pharmaceuticals by 6.0%, owning approximately 0.22% of the company, valued at $270.98 million as of its latest filing with the SEC.
• Vertex Pharmaceuticals reported earnings of $4.52 per share for the quarter, surpassing estimates and showcasing a year-over-year revenue increase of 11.3% to $2.94 billion.
• Analysts have recently adjusted their ratings and price targets for Vertex Pharmaceuticals, with a consensus rating of "Moderate Buy" and an average price target of $497.10.

National Pension Service grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 558,929 shares of the pharmaceutical company's stock after purchasing an additional 31,455 shares during the period. National Pension Service owned about 0.22% of Vertex Pharmaceuticals worth $270,980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Aries Wealth Management bought a new stake in Vertex Pharmaceuticals during the first quarter valued at about $293,000. Polar Asset Management Partners Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $22,954,000. GAMMA Investing LLC boosted its position in Vertex Pharmaceuticals by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock valued at $2,425,000 after purchasing an additional 1,005 shares in the last quarter. Brighton Jones LLC boosted its position in Vertex Pharmaceuticals by 45.0% during the first quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock valued at $3,113,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Stanley Laman Group Ltd. bought a new stake in Vertex Pharmaceuticals during the first quarter valued at about $486,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost 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 $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 3.6%

Shares of NASDAQ VRTX opened at $387.77 on Wednesday. The stock has a market cap of $99.42 billion, a PE ratio of 27.72 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The business has a 50-day moving average price of $448.18 and a 200 day moving average price of $464.96.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 prior year, the firm earned ($12.83) EPS. The business's revenue was up 11.3% on a year-over-year basis. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the subject of several recent analyst reports. Erste Group Bank downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target for the company in a report on Wednesday, August 6th. HC Wainwright lowered their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Scotiabank lowered their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Finally, Guggenheim lowered their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $497.10.

About Vertex Pharmaceuticals

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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