Generali Asset Management SPA SGR Acquires 6,942 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Generali Asset Management SPA SGR lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 41.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,569 shares of the pharmaceutical company’s stock after acquiring an additional 6,942 shares during the period. Generali Asset Management SPA SGR’s holdings in Vertex Pharmaceuticals were worth $9,231,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Access Investment Management LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $27,000. Chesapeake Asset Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 110.0% during the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Finally, Total Investment Management Inc. acquired a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $33,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Down 0.1%

VRTX stock opened at $453.36 on Friday. The firm has a 50-day moving average price of $438.29 and a 200-day moving average price of $426.55. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The stock has a market capitalization of $115.03 billion, a P/E ratio of 31.97 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the company earned $4.38 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the completion of the transaction, the executive vice president directly owned 37,725 shares in the company, valued at approximately $17,202,600. This trade represents a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman directly owned 24,026 shares in the company, valued at $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 151,073 shares of company stock valued at $67,326,816 over the last quarter. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on VRTX shares. Scotiabank began coverage on Vertex Pharmaceuticals in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Wells Fargo & Company boosted their target price on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Finally, Barclays upped their price target on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.05.

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.