Sanctuary Advisors LLC Boosts Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Sanctuary Advisors LLC raised its position in Vertex by 7.7% in Q4, buying 3,551 shares to hold 49,804 shares valued at about $22.58 million.
• Insider selling has been notable: EVP Duncan Mckechnie sold 4,910 shares and EVP Jonathan Biller sold 945 shares on Feb. 25, and insiders have sold 80,431 shares (~$37.9 million) in the past 90 days, leaving insiders with 0.20% ownership.
• Institutional ownership is very high at 90.96%, and analysts collectively rate VRTX a "Moderate Buy" with an average price target of $555; the stock has a market cap of roughly $109.5 billion and a P/E of 28.08.

Sanctuary Advisors LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,804 shares of the pharmaceutical company's stock after buying an additional 3,551 shares during the period. Sanctuary Advisors LLC's holdings in Vertex Pharmaceuticals were worth $22,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Vertex Pharmaceuticals by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company's stock valued at $9,484,293,000 after buying an additional 243,088 shares during the last quarter. Capital Research Global Investors boosted its position in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company's stock valued at $6,482,978,000 after buying an additional 444,990 shares during the last quarter. Capital International Investors boosted its position in Vertex Pharmaceuticals by 77.9% in the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company's stock valued at $1,836,550,000 after buying an additional 2,053,156 shares during the last quarter. Alliancebernstein L.P. boosted its position in Vertex Pharmaceuticals by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company's stock valued at $1,771,226,000 after buying an additional 144,266 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Vertex Pharmaceuticals by 4.4% during the third quarter. Ameriprise Financial Inc. now owns 2,276,927 shares of the pharmaceutical company's stock worth $891,744,000 after purchasing an additional 95,565 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 4,910 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the sale, the executive vice president owned 17,559 shares in the company, valued at approximately $8,562,646.35. This trade represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Biller sold 945 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $459,600.75. Following the completion of the sale, the executive vice president owned 13,659 shares in the company, valued at $6,643,054.65. The trade was a 6.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,431 shares of company stock valued at $37,875,167 in the last ninety days. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VRTX shares. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $596.00 to $612.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Maxim Group raised shares of 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. Canaccord Genuity Group increased their price target on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a "hold" rating in a research report on Tuesday, February 17th. Citigroup increased their price target on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Finally, Bank of America increased their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $555.00.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $430.42 on Monday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $510.77. The company's 50-day simple moving average is $457.85 and its 200-day simple moving average is $449.02. The stock has a market capitalization of $109.48 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.92 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the company earned $3.98 EPS. Vertex Pharmaceuticals's revenue was up 9.5% compared to the same quarter last year. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.77 EPS for the current year.

About Vertex Pharmaceuticals

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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