J2 Capital Management Inc purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,176 shares of the pharmaceutical company’s stock, valued at approximately $371,000.
Several other institutional investors have also recently made changes to their positions in the stock. Y.D. More Investments Ltd acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $26,000. Steward Financial Group LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $28,000. SJS Investment Consulting Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 61.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 102 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 39 shares in the last quarter. New Hampshire Trust bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $29,000. Finally, Freedom Wealth Alliance LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 91.37% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Sanford C. Bernstein increased their target price on shares of Vertex Pharmaceuticals from $344.00 to $363.00 in a report on Wednesday, May 3rd. Robert W. Baird boosted their target price on Vertex Pharmaceuticals from $280.00 to $325.00 in a research note on Tuesday, May 2nd. William Blair assumed coverage on Vertex Pharmaceuticals in a research report on Tuesday, May 30th. They issued an “outperform” rating and a $382.00 price objective on the stock. Argus raised their target price on Vertex Pharmaceuticals from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, March 29th. Finally, Truist Financial boosted their price target on shares of Vertex Pharmaceuticals from $341.00 to $456.00 in a report on Tuesday, May 2nd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $355.25.
Vertex Pharmaceuticals Price Performance
Vertex Pharmaceuticals stock traded up $3.93 during midday trading on Wednesday, reaching $351.05. 352,670 shares of the stock were exchanged, compared to its average volume of 1,254,406. The company’s fifty day moving average is $338.97 and its 200-day moving average is $315.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.11 and a current ratio of 4.28. Vertex Pharmaceuticals Incorporated has a 52 week low of $271.61 and a 52 week high of $354.46. The firm has a market cap of $90.41 billion, a PE ratio of 27.64, a PEG ratio of 3.24 and a beta of 0.50.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The pharmaceutical company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.54. Vertex Pharmaceuticals had a return on equity of 25.06% and a net margin of 35.40%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the business posted $3.16 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 13.03 EPS for the current year.
Insider Activity
In related news, EVP Bastiano Sanna sold 7,567 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $326.70, for a total value of $2,472,138.90. Following the transaction, the executive vice president now directly owns 39,713 shares in the company, valued at $12,974,237.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Stuart A. Arbuckle sold 82 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $329.82, for a total transaction of $27,045.24. Following the transaction, the chief operating officer now directly owns 56,556 shares in the company, valued at approximately $18,653,299.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bastiano Sanna sold 7,567 shares of the business’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $326.70, for a total value of $2,472,138.90. Following the completion of the sale, the executive vice president now owns 39,713 shares of the company’s stock, valued at approximately $12,974,237.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,608 shares of company stock worth $18,718,544. 0.30% of the stock is currently owned by insiders.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.
Further Reading
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