Campbell & CO Investment Adviser LLC Purchases Shares of 2,023 Vertex Pharmaceuticals Incorporated $VRTX

Campbell & CO Investment Adviser LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,023 shares of the pharmaceutical company’s stock, valued at approximately $792,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Chesapeake Asset Management LLC increased its stake in Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares in the last quarter. Access Investment Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Total Investment Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $33,000. Finally, Financial Network Wealth Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $442.08 on Wednesday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The business’s 50-day moving average price is $447.25 and its two-hundred day moving average price is $426.90. The company has a market capitalization of $112.16 billion, a P/E ratio of 31.18 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the company earned $4.38 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction on 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 completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles F. Wagner, Jr. sold 9,532 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $461.00, for a total transaction of $4,394,252.00. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at $17,391,225. The trade was a 20.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 165,105 shares of company stock worth $73,858,523 over the last ninety days. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on VRTX. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Morgan Stanley set a $564.00 price target on Vertex Pharmaceuticals in a report on Friday, December 5th. Wolfe Research raised Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price objective for the company in a research note on Tuesday, January 6th. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Citigroup upped their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $503.80.

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.