Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group nearly doubled its Vertex Pharmaceuticals stake in the fourth quarter, buying 15,372 additional shares and bringing its total holdings to 31,372 shares worth about $14.2 million.
• Vertex reported better-than-expected earnings for its latest quarter, posting $4.47 EPS versus the $4.24 consensus while revenue came in at $2.99 billion, up 8.3% year over year.
• Wall Street remains broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $555.17, though insider selling has continued in recent months.

Jefferies Financial Group Inc. lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 96.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,372 shares of the pharmaceutical company's stock after buying an additional 15,372 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Vertex Pharmaceuticals were worth $14,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VRTX. Colonial Trust Co SC raised its stake in shares of Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 38 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $29,000. IMG Wealth Management Inc. raised its stake in shares of Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after buying an additional 50 shares during the last quarter. Ares Financial Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $33,000. Finally, Archer Investment Corp raised its stake in shares of Vertex Pharmaceuticals by 89.7% during the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock worth $34,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $434.52 on Monday. The company has a market capitalization of $110.28 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.86 and a beta of 0.30. The firm has a 50-day moving average price of $441.55 and a 200 day moving average price of $451.02. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm's revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.06 EPS. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VRTX. Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Sanford C. Bernstein cut their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Royal Bank Of Canada boosted their target price on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Wall Street Zen raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $555.17.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Edward Morrow Atkinson III sold 668 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 value of $324,881.80. Following the completion of the sale, the executive vice president owned 18,432 shares in the company, valued at $8,964,403.20. The trade was a 3.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director owned 4,924 shares of the company's stock, valued at $2,086,446.52. This trade represents a 6.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,189 shares of company stock worth $9,923,036 over the last ninety days. Insiders own 0.20% of the company's stock.

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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