Reynders McVeigh Capital Management LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 178.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,972 shares of the pharmaceutical company’s stock after buying an additional 2,547 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,251,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $26,000. Steward Financial Group LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $28,000. New Hampshire Trust bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $29,000. Freedom Wealth Alliance LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $29,000. Finally, Arlington Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on VRTX. Royal Bank of Canada raised their price target on shares of Vertex Pharmaceuticals from $315.00 to $323.00 in a report on Thursday, June 8th. Maxim Group raised their price target on shares of Vertex Pharmaceuticals from $325.00 to $400.00 in a report on Wednesday, May 3rd. William Blair initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, May 30th. They issued an “outperform” rating and a $382.00 target price on the stock. Argus lifted their target price on shares of Vertex Pharmaceuticals from $340.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, March 29th. Finally, Barclays lifted their target price on shares of Vertex Pharmaceuticals from $342.00 to $384.00 in a report on Tuesday, May 2nd. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $359.00.
Vertex Pharmaceuticals Price Performance
Shares of Vertex Pharmaceuticals stock traded down $1.52 during trading on Tuesday, hitting $355.53. 199,274 shares of the company’s stock traded hands, compared to its average volume of 1,245,958. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.28 and a quick ratio of 4.11. The firm’s fifty day moving average price is $342.87 and its 200 day moving average price is $322.80. Vertex Pharmaceuticals Incorporated has a twelve month low of $271.61 and a twelve month high of $367.00. The company has a market cap of $91.57 billion, a PE ratio of 28.43, a PEG ratio of 3.01 and a beta of 0.51.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings results on Monday, May 1st. The pharmaceutical company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.54. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. Vertex Pharmaceuticals had a net margin of 35.40% and a return on equity of 25.06%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.16 earnings per share. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 13.06 earnings per share for the current year.
Insider Buying and Selling at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 11,250 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $356.75, for a total value of $4,013,437.50. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $14,270,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Reshma Kewalramani sold 7,828 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $355.00, for a total transaction of $2,778,940.00. Following the completion of the sale, the chief executive officer now directly owns 118,906 shares of the company’s stock, valued at $42,211,630. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce I. Sachs sold 11,250 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $356.75, for a total transaction of $4,013,437.50. Following the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $14,270,000. The disclosure for this sale can be found here. Insiders have sold a total of 45,297 shares of company stock worth $15,914,580 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.
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.
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