Alliancebernstein L.P. Acquires 144,266 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Alliancebernstein L.P. lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,522,586 shares of the pharmaceutical company’s stock after purchasing an additional 144,266 shares during the quarter. Vertex Pharmaceuticals accounts for about 0.6% of Alliancebernstein L.P.’s investment portfolio, making the stock its 28th biggest holding. Alliancebernstein L.P. owned 1.78% of Vertex Pharmaceuticals worth $1,771,226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Leuthold Group LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $5,030,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Vertex Pharmaceuticals by 3.8% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company’s stock worth $213,435,000 after purchasing an additional 20,053 shares during the last quarter. Advisory Resource Group purchased a new stake in Vertex Pharmaceuticals in the third quarter worth approximately $1,286,000. Generali Asset Management SPA SGR grew its position in Vertex Pharmaceuticals by 41.8% in the 3rd quarter. Generali Asset Management SPA SGR now owns 23,569 shares of the pharmaceutical company’s stock worth $9,231,000 after purchasing an additional 6,942 shares during the period. Finally, Welch & Forbes LLC raised its stake in Vertex Pharmaceuticals by 1.4% during the 3rd quarter. Welch & Forbes LLC now owns 220,346 shares of the pharmaceutical company’s stock valued at $86,296,000 after buying an additional 3,102 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $469.34 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68. The company’s fifty day simple moving average is $470.03 and its 200-day simple moving average is $438.12. The stock has a market capitalization of $119.23 billion, a PE ratio of 30.62, a P/E/G ratio of 2.00 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the company earned $3.98 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Duncan Mckechnie sold 4,910 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the transaction, the executive vice president directly owned 17,559 shares of the company’s stock, valued at $8,562,646.35. The trade was a 21.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 260 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $126,451.00. Following the transaction, the executive vice president owned 46,763 shares of the company’s stock, valued at approximately $22,743,185.05. This trade represents a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,156 shares of company stock valued at $42,845,497 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Scotiabank increased their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Jefferies Financial Group started coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price objective for the company. Bank of America upped their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Finally, Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target for the company in a research note on Tuesday, January 6th. Twenty-three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $553.36.

More Vertex Pharmaceuticals News

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Several major analysts raised coverage and targets for VRTX, boosting bullish sentiment and shorter-term buying interest. Oppenheimer Raises Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $600.00
• Positive Sentiment: Analyst upgrades translated into intraday strength earlier in the week (shares traded notably higher on upgrade headlines), signaling renewed investor appetite. Vertex Pharmaceuticals (NASDAQ:VRTX) Trading 9.9% Higher on Analyst Upgrade
• Positive Sentiment: New research coverage from Jefferies adds another channel for institutional visibility and could support longer-term demand. Vertex Pharmaceuticals (NASDAQ:VRTX) Research Coverage Started at Jefferies Financial Group
• Positive Sentiment: Retail and media interest has picked up — headlines highlighting a recent ~8% jump are drawing attention from momentum traders. This helps explain recent volume spikes and short-term volatility. This Stock Just Jumped By 8%: Is It Too Late to Buy?
• Neutral Sentiment: “Trending stock” write-ups from Zacks/Yahoo summarize catalysts and risks for new readers; useful for context but unlikely to move price by themselves. Vertex Pharmaceuticals Incorporated (VRTX) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyses that list reasons to watch VRTX (growth from cystic fibrosis and extending franchises) and one caution help frame investor decisions but don’t introduce a new catalyst. 2 Reasons to Watch VRTX and 1 to Stay Cautious
• Neutral Sentiment: Long-term performance pieces and market-focus coverage provide background on investor returns and index attention; helpful for positioning but not immediate drivers. If You Invested $1000 In Vertex Pharmaceuticals Stock 20 Years Ago…
• Negative Sentiment: Despite the upgrades, the stock has retraced from the immediate highs — recent intraday declines and a prior small earnings EPS miss (Feb quarter EPS slightly below consensus) leave some investors taking profits. Vertex Pharmaceuticals (VRTX) Registers a Bigger Fall Than the Market

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.