S Bank Fund Management Ltd Invests $1.16 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• S Bank Fund Management Ltd has invested approximately $1.16 million in Vertex Pharmaceuticals, acquiring 2,390 shares in the first quarter.
• Vertex Pharmaceuticals has a market capitalization of $99.42 billion and reported quarterly earnings of $4.52 per share, surpassing analysts' expectations.
• Multiple institutional investors have recently increased their positions in Vertex, contributing to institutional ownership of 90.96% of the company's stock.

S Bank Fund Management Ltd bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,390 shares of the pharmaceutical company's stock, valued at approximately $1,159,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VRTX. Brighton Jones LLC increased its position in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after acquiring an additional 579 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $1,019,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $1,653,000. Kane Investment Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $894,000. Finally, Jump Financial LLC increased its holdings in shares of Vertex Pharmaceuticals by 2.4% in the 4th quarter. Jump Financial LLC now owns 3,041 shares of the pharmaceutical company's stock valued at $1,225,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Erste Group Bank downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Scotiabank decreased their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Canaccord Genuity Group reduced their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $387.77 on Wednesday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The company has a market cap of $99.42 billion, a P/E ratio of 27.72 and a beta of 0.44. The firm's fifty day moving average price is $448.18 and its two-hundred day moving average price is $464.96.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the company posted ($12.83) EPS. The firm's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Profile

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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