V Square Quantitative Management LLC Acquires New Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• V Square Quantitative Management LLC opened a new position in Vertex by purchasing 5,624 shares during Q4, valued at about $2.55 million.
• Brokerages are broadly positive on Vertex, with a consensus rating of “Moderate Buy” and a consensus target price of $554.30 after several firms raised ratings and price targets (Morgan Stanley $596, Maxim $575).
• Company insiders have been net sellers recently—selling 80,431 shares worth roughly $37.9 million over the last three months—while institutional investors own about 90.96% of the stock and insiders hold 0.20%.

V Square Quantitative Management LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,624 shares of the pharmaceutical company's stock, valued at approximately $2,550,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chesapeake Asset Management LLC boosted its position in shares of Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company's stock worth $25,000 after purchasing an additional 33 shares during the period. Colonial Trust Co SC grew its stake in shares of Vertex Pharmaceuticals by 118.8% in the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 38 shares in the last quarter. Total Investment Management Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth about $33,000. Capital Advisors Ltd. LLC boosted its holdings in Vertex Pharmaceuticals by 54.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 77 shares of the pharmaceutical company's stock valued at $35,000 after acquiring an additional 27 shares during the period. Finally, Financial Network Wealth Advisors LLC grew its position in Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company's stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRTX. 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. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $570.00 to $596.00 and gave the company an "overweight" rating in a research report on Tuesday, March 10th. Wolfe Research raised Vertex Pharmaceuticals from a "peer perform" rating to an "outperform" rating and set a $548.00 price objective on the stock in a research report on Tuesday, January 6th. Sanford C. Bernstein reissued an "outperform" rating and set a $577.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Finally, Leerink Partners lifted their price objective on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an "outperform" rating in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $554.30.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $443.92 on Thursday. The stock's 50-day simple moving average is $465.41 and its 200-day simple moving average is $445.04. The firm has a market capitalization of $112.77 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 1.88 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $510.77.

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 analysts' consensus estimates of $5.05 by ($0.02). The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.98 EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark E. Bunnage sold 620 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $301,537.00. Following the sale, the executive vice president owned 7,284 shares in the company, valued at approximately $3,542,573.40. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Duncan Mckechnie sold 4,910 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 17,559 shares of the company's stock, valued at approximately $8,562,646.35. This trade represents a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 80,431 shares of company stock worth $37,875,167 over the last three months. Company insiders own 0.20% of the company's stock.

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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