Quantitative Investment Management LLC Makes New Investment in Vertex Pharmaceuticals Incorporated $VRTX

Quantitative Investment Management LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,342 shares of the pharmaceutical company's stock, valued at approximately $4,143,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at $26,000. Community Financial Services Group LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at $26,000. Elevation Wealth Partners LLC grew its stake in Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 28 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $26,000. Finally, Swiss RE Ltd. acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VRTX shares. Canaccord Genuity Group raised their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a "hold" rating in a report on Tuesday, August 4th. Sanford C. Bernstein raised Vertex Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, July 29th. Cantor Fitzgerald lifted their target price on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. Finally, Truist Financial upped their target price on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $563.50.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $541.69 on Monday. The stock has a fifty day moving average price of $502.08 and a 200 day moving average price of $468.65. Vertex Pharmaceuticals Incorporated has a 1-year low of $374.17 and a 1-year high of $555.69. The company has a market cap of $137.48 billion, a PE ratio of 31.53, a P/E/G ratio of 2.35 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.52 earnings per share. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the sale, the executive vice president owned 11,001 shares of the company's stock, valued at approximately $5,709,519. The trade was a 12.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $450.00, for a total value of $1,827,900.00. Following the transaction, the chief marketing officer owned 16,953 shares in the company, valued at $7,628,850. The trade was a 19.33% decrease in their position. 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. Insiders have sold a total of 10,464 shares of company stock worth $4,959,397 over the last ninety 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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