O Shaughnessy Asset Management LLC Buys 11,564 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• O Shaughnessy Asset Management increased its stake in Vertex Pharmaceuticals by 32.4% in the fourth quarter, buying 11,564 more shares and bringing its total holding to 47,245 shares worth about $21.4 million.
• Analyst sentiment remains largely positive: Vertex has 22 Buy ratings and 3 Hold ratings, with a consensus Moderate Buy and average price target of $555.91, despite a recent downgrade from Wall Street Zen to Hold.
• Vertex reported better-than-expected quarterly earnings of $4.47 per share versus $4.24 expected, with revenue of $2.99 billion, while insiders recently sold shares under pre-arranged trading plans.

O Shaughnessy Asset Management LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 32.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,245 shares of the pharmaceutical company's stock after acquiring an additional 11,564 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Vertex Pharmaceuticals were worth $21,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC raised its position in shares of Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $29,000. IMG Wealth Management Inc. raised its position in shares of Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Ares Financial Consulting LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $33,000. Finally, Archer Investment Corp raised its position in shares of Vertex Pharmaceuticals by 89.7% during the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock worth $34,000 after acquiring an additional 35 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. Sanford C. Bernstein decreased their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Barclays raised their target price on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Finally, Morgan Stanley raised their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $555.91.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $442.96 on Tuesday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The business has a 50 day simple moving average of $437.12 and a 200 day simple moving average of $451.98. The stock has a market capitalization of $112.42 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.91 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the firm posted $4.06 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director owned 4,924 shares of the company's stock, valued at approximately $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $11,739,600. This trade represents a 21.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 11,717 shares of company stock valued at $5,309,945. Company insiders own 0.20% of the company's stock.

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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