Grange Capital LLC Makes New Investment in Vertex Pharmaceuticals Incorporated $VRTX

Grange Capital LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,554 shares of the pharmaceutical company’s stock, valued at approximately $1,392,000. Vertex Pharmaceuticals makes up 1.3% of Grange Capital LLC’s investment portfolio, making the stock its 27th biggest position.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRTX. Stifel Nicolaus boosted their price objective on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research report on Friday. Evercore boosted their price target on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday. Royal Bank Of Canada cut their target price on Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Leerink Partners upped their target price on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a research report on Monday, December 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Vertex Pharmaceuticals Trading Down 2.9%

NASDAQ:VRTX opened at $477.32 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68. The stock’s 50 day simple moving average is $461.78 and its 200-day simple moving average is $427.53. The firm has a market cap of $121.11 billion, a P/E ratio of 31.14 and a beta of 0.30.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 14,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 sale, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. The trade was a 27.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the transaction, the chairman directly owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. This trade represents a 72.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 99,352 shares of company stock valued at $45,037,314. Insiders own 0.20% of the company’s stock.

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.