Perpetual Ltd Buys New Shares in Vertex Pharmaceuticals Incorporated $VRTX

Perpetual Ltd bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,636 shares of the pharmaceutical company’s stock, valued at approximately $742,000.

A number of other hedge funds have also recently added to or reduced their stakes in VRTX. Chesapeake Asset Management LLC increased its stake in shares of Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Colonial Trust Co SC boosted its position in shares of Vertex Pharmaceuticals by 118.8% in the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. Total Investment Management Inc. purchased a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC grew 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 during the period. Finally, Y.D. More Investments Ltd increased its position in Vertex Pharmaceuticals by 345.0% during the third quarter. Y.D. More Investments Ltd now owns 89 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

VRTX opened at $438.71 on Monday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $510.77. The company has a 50 day moving average of $467.78 and a two-hundred day moving average of $444.37. The company has a market cap of $111.45 billion, a P/E ratio of 28.62, a P/E/G ratio of 1.88 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The business 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 revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.98 EPS. Research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 4,910 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total value 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. This trade represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 9,532 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $461.00, for a total value of $4,394,252.00. Following the transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $17,391,225. This represents a 20.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 94,463 shares of company stock valued at $44,406,874 over the last ninety days. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on VRTX shares. Scotiabank lifted their price target on shares of 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 set a “buy” rating and a $580.00 price objective for the company. Citigroup increased their target price on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Weiss Ratings upgraded Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $554.30.

Vertex Pharmaceuticals 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.