Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Amundi

Amundi raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,546,509 shares of the pharmaceutical company's stock after acquiring an additional 74,013 shares during the quarter. Amundi owned 0.61% of Vertex Pharmaceuticals worth $768,197,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Advus Financial Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $200,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $46,722,000. California State Teachers Retirement System grew its holdings in shares of Vertex Pharmaceuticals by 50,904.3% in the 2nd quarter. California State Teachers Retirement System now owns 190,491,484 shares of the pharmaceutical company's stock worth $94,622,835,000 after acquiring an additional 190,118,003 shares during the period. Wedmont Private Capital increased its stake in Vertex Pharmaceuticals by 4.2% in the 2nd quarter. Wedmont Private Capital now owns 3,524 shares of the pharmaceutical company's stock valued at $1,711,000 after purchasing an additional 141 shares in the last quarter. Finally, Figure 8 Investment Strategies LLC raised its holdings in Vertex Pharmaceuticals by 15.9% during the second quarter. Figure 8 Investment Strategies LLC now owns 1,776 shares of the pharmaceutical company's stock worth $882,000 after purchasing an additional 243 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on VRTX. TD Cowen upped their target price on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Barclays lifted their price target on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Morgan Stanley assumed coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 1st. They issued an "overweight" rating and a $665.00 price objective on the stock. Stifel Nicolaus set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group set a $653.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $569.52.

Insider Activity

In other news, EVP Duncan McKechnie sold 1,541 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares of the company's stock, valued at $5,709,519. This represents a 12.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 8,719 shares of company stock valued at $4,174,147 over the last quarter. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $546.12 on Monday. The stock has a 50-day moving average price of $509.50 and a 200 day moving average price of $471.33. Vertex Pharmaceuticals Incorporated has a 52 week low of $374.17 and a 52 week high of $560.25. The stock has a market cap of $138.61 billion, a PE ratio of 31.79, a P/E/G ratio of 2.37 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results 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). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.23 billion. During the same quarter last year, the company posted $4.52 earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.88 EPS for the current year.

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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