UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.53 Billion Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• UBS Asset Management increased its Vertex Pharmaceuticals position by 1% in the second quarter, holding 3.09 million shares valued at approximately $1.53 billion. Institutional investors collectively own 90.96% of VRTX.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $563.50; recent targets range from $500 to $595.
• Vertex reported quarterly revenue of $3.33 billion, up 12.5% year over year and above expectations, while EPS of $4.73 narrowly missed the $4.74 consensus estimate.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,086,683 shares of the pharmaceutical company's stock after acquiring an additional 29,287 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.22% of Vertex Pharmaceuticals worth $1,533,248,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of VRTX. Community Financial Services Group LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $26,000. Motiv8 Investments LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $26,000. Elevation Wealth Partners LLC increased its position in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 28 shares in the last quarter. Finally, Swiss RE Ltd. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, June 26th. The shares were 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. The trade was a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president owned 45,321 shares in the company, valued at approximately $23,793,071.79. The trade was a 3.20% 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 sold a total of 10,464 shares of company stock worth $4,959,397 in the last quarter. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

VRTX has been the topic of several recent research reports. UBS Group raised their price target on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Royal Bank Of Canada raised their target price on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Sanford C. Bernstein upgraded Vertex Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, July 29th. Stifel Nicolaus set a $500.00 price target on Vertex Pharmaceuticals in a research report on Tuesday, August 4th. Finally, Cantor Fitzgerald lifted their price objective on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. One investment 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 company. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $563.50.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $541.69 on Friday. The company has a market capitalization of $137.48 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 2.35 and a beta of 0.30. The company's 50-day moving average is $502.08 and its 200 day moving average is $468.67. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $555.69.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $4.52 EPS. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

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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