Sanctuary Advisors LLC Invests $19.77 Million in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Sanctuary Advisors acquired 39,811 Vertex Pharmaceuticals shares worth approximately $19.77 million, while institutional investors collectively own 90.96% of the company.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and above estimates, although earnings of $4.73 per share narrowly missed consensus expectations.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $563.50; shares recently opened at $548.05, near their 52-week high of $555.32.

Sanctuary Advisors LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 39,811 shares of the pharmaceutical company's stock, valued at approximately $19,775,000.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $11,975,849,000. Norges Bank acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,440,149,000. AIGH Capital Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $26,725,000. Bank of New York Mellon Corp bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth approximately $830,842,000. Finally, Deutsche Bank AG acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $784,391,000. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 596 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the sale, the chief marketing officer owned 15,337 shares of the company's stock, valued at approximately $7,400,102.50. This trade represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 11,001 shares of the company's stock, valued at $5,709,519. This trade represents a 12.29% 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. In the last quarter, insiders have sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $548.05 on Monday. The business has a fifty day moving average price of $492.65 and a two-hundred day moving average price of $465.88. The stock has a market capitalization of $139.10 billion, a PE ratio of 31.90, a P/E/G ratio of 2.27 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $555.32.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.52 EPS. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VRTX. TD Cowen upped their price objective on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Royal Bank Of Canada boosted their target price on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. Finally, Barclays lifted their price objective on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $563.50.

Vertex Pharmaceuticals Company 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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