Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by MASTERINVEST Kapitalanlage GmbH

Key Points

• MASTERINVEST Kapitalanlage GmbH increased its Vertex Pharmaceuticals stake by 49.6% in the first quarter, buying 2,749 more shares and bringing its total to 8,293 shares valued at about $3.7 million.
• Vertex reported better-than-expected quarterly earnings of $4.47 per share, beating estimates, while revenue came in at $2.99 billion and rose 8.3% year over year.
• Analysts remain broadly positive on the stock, with 21 Buy ratings and a consensus Moderate Buy rating; the average price target is $559.61.

MASTERINVEST Kapitalanlage GmbH lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 49.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,293 shares of the pharmaceutical company's stock after purchasing an additional 2,749 shares during the period. MASTERINVEST Kapitalanlage GmbH's holdings in Vertex Pharmaceuticals were worth $3,703,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRTX. Danske Bank A S acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $64,417,000. Nordea Investment Management AB grew its stake in shares of Vertex Pharmaceuticals by 23.8% during the fourth quarter. Nordea Investment Management AB now owns 447,169 shares of the pharmaceutical company's stock worth $202,612,000 after purchasing an additional 86,084 shares in the last quarter. Cooper Financial Group grew its stake in shares of Vertex Pharmaceuticals by 130.2% during the fourth quarter. Cooper Financial Group now owns 5,341 shares of the pharmaceutical company's stock worth $2,421,000 after purchasing an additional 3,021 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Vertex Pharmaceuticals by 9.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 832,853 shares of the pharmaceutical company's stock valued at $377,582,000 after buying an additional 69,150 shares during the last quarter. Finally, Swiss Life Asset Management Ltd increased its holdings in Vertex Pharmaceuticals by 10.4% in the third quarter. Swiss Life Asset Management Ltd now owns 63,945 shares of the pharmaceutical company's stock valued at $25,043,000 after buying an additional 6,045 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.8%

Shares of VRTX opened at $476.31 on Wednesday. The firm has a market cap of $120.89 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 2.05 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67. The company's 50 day simple moving average is $459.21 and its 200-day simple moving average is $458.56.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $4.06 EPS. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Maxim Group raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price target for the company in a report on Wednesday, March 18th. Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Truist Financial raised their target price on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday. Royal Bank Of Canada boosted their target price on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 7th. Finally, UBS Group upped their price target on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a report on Monday. Twenty-one equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $559.61.

Insider Activity

In related news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction on Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the transaction, the executive vice president directly owned 20,729 shares in the company, valued at $8,810,239.58. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the transaction, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 18,874 shares of company stock valued at $8,707,966. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Company 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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