Vertex Pharmaceuticals Incorporated $VRTX Stock Holdings Increased by Daiwa Securities Group Inc.

Key Points

• Daiwa Securities Group Inc. increased its Vertex Pharmaceuticals stake by 5% in the fourth quarter, holding 70,595 shares valued at about $32.0 million after adding 3,368 shares.
• Vertex reported better-than-expected quarterly earnings of $4.47 per share on revenue of $2.99 billion, with revenue up 8.3% year over year.
• Analyst sentiment remains positive overall, with a Moderate Buy consensus and an average price target of $555.91, even as some insiders recently sold shares.

Daiwa Securities Group Inc. raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,595 shares of the pharmaceutical company's stock after acquiring an additional 3,368 shares during the period. Daiwa Securities Group Inc.'s holdings in Vertex Pharmaceuticals were worth $32,005,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC raised its stake in Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $29,000. IMG Wealth Management Inc. raised its stake in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock valued at $31,000 after acquiring an additional 50 shares in the last quarter. Ares Financial Consulting LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $33,000. Finally, Archer Investment Corp raised its stake in Vertex Pharmaceuticals by 89.7% during the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company's stock valued at $34,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Up 1.2%

Shares of NASDAQ VRTX opened at $446.83 on Friday. The stock has a market capitalization of $113.41 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.89 and a beta of 0.30. The stock's fifty day simple moving average is $437.33 and its 200 day simple moving average is $451.81. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion for 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 company's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.06 EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VRTX shares. Bank of America lifted their target price on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a "buy" rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Scotiabank lifted their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. Twenty-two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $555.91.

Insider Buying and Selling

In related news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction on Friday, May 1st. The stock was 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. The trade was a 5.06% decrease in their position. The sale 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, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director owned 4,924 shares in the company, valued at $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,717 shares of company stock worth $5,309,945 in the last three months. 0.20% of the stock is currently owned by 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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