Sand Hill Global Advisors LLC Invests $3.36 Million in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Sand Hill Global Advisors LLC invested approximately $3.36 million in Vertex Pharmaceuticals, acquiring nearly 6,925 shares during the first quarter.
• Significant movements in shareholding were noted, with GAMMA Investing LLC dramatically increasing its stake by 60,572.3% and now holding over $1.17 billion in Vertex’s stock.
• Recent analyst ratings show a mix of opinions, with Canaccord Genuity lowering its price target while Wells Fargo upgraded Vertex, resulting in a consensus target price of $497.10.

Sand Hill Global Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,925 shares of the pharmaceutical company's stock, valued at approximately $3,357,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Vertex Pharmaceuticals by 60,572.3% during the first quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock worth $1,175,722,000 after purchasing an additional 2,421,073 shares during the last quarter. Nuveen LLC bought a new stake in Vertex Pharmaceuticals during the first quarter worth about $484,053,000. Jennison Associates LLC lifted its stake in Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after purchasing an additional 744,680 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Vertex Pharmaceuticals by 6,487.2% during the fourth quarter. Lazard Asset Management LLC now owns 526,119 shares of the pharmaceutical company's stock worth $211,867,000 after purchasing an additional 518,132 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Vertex Pharmaceuticals by 28.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company's stock worth $860,650,000 after purchasing an additional 398,460 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Canaccord Genuity Group dropped their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research note on Wednesday, August 6th. Wolfe Research lowered Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Cantor Fitzgerald lowered their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Trading Up 0.6%

VRTX stock opened at $392.79 on Monday. The stock's 50 day simple moving average is $444.95 and its 200 day simple moving average is $464.12. The stock has a market capitalization of $100.71 billion, a PE ratio of 28.08 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88.

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

Vertex Pharmaceuticals Company 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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