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AIA Group Ltd Purchases 4,314 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Vertex Pharmaceuticals logo with Medical background

Key Points

  • AIA Group Ltd has increased its stake in Vertex Pharmaceuticals by 14.4%, owning 34,229 shares valued at approximately $16.6 million as of the latest reporting period.
  • Wall Street analysts have mixed opinions on Vertex Pharmaceuticals, with the average rating being "Moderate Buy" and an average price target of $497.10.
  • Recently, Director Bruce I. Sachs bought 5,000 shares at an average price of $389.68, increasing his position by 12.5%.
  • Need better tools to track Vertex Pharmaceuticals? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

AIA Group Ltd boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 14.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,229 shares of the pharmaceutical company's stock after acquiring an additional 4,314 shares during the period. AIA Group Ltd's holdings in Vertex Pharmaceuticals were worth $16,595,000 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 VRTX. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $40,000. Minot DeBlois Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $44,000. SJS Investment Consulting Inc. raised its position in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $46,000. Institutional investors own 90.96% of the company's stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VRTX has been the topic of several research reports. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research report on Wednesday, August 6th. Guggenheim reduced their price target on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Cantor Fitzgerald reduced their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Leerink Partnrs lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Read Our Latest Analysis on VRTX

Vertex Pharmaceuticals Trading Up 2.1%

Shares of VRTX traded up $8.15 during trading hours on Wednesday, reaching $395.92. 1,913,607 shares of the company traded hands, compared to its average volume of 2,284,947. The firm has a market cap of $101.51 billion, a price-to-earnings ratio of 28.30 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. The stock's fifty day moving average price is $447.18 and its 200 day moving average price is $464.48.

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

About Vertex Pharmaceuticals

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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