Generali Investments Management Co LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Generali Investments Management Co LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 46.3% in the second quarter, Holdings Channel.com reports. The firm owned 4,926 shares of the pharmaceutical company’s stock after buying an additional 1,560 shares during the period. Generali Investments Management Co LLC’s holdings in Vertex Pharmaceuticals were worth $2,447,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Community Financial Services Group LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $26,000. Motiv8 Investments LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $26,000. Elevation Wealth Partners LLC increased its stake in shares of Vertex Pharmaceuticals by 103.7% in the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 28 shares during the last quarter. Swiss RE Ltd. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $28,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $29,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $523.91 on Tuesday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $546.17. The company has a 50-day simple moving average of $476.55 and a 200-day simple moving average of $462.23. The firm has a market capitalization of $132.97 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 2.05 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. Vertex Pharmaceuticals’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.52 EPS. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus set a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 4th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. TD Cowen lifted their price target on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Cantor Fitzgerald boosted their price objective on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $563.50.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the sale, the executive vice president owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the transaction, the executive vice president owned 11,001 shares of the company’s stock, valued at $5,709,519. This represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,464 shares of company stock worth $4,959,397 over the last ninety days. Company insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

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.