CTC Alternative Strategies Ltd. Purchases Shares of 1,760 Vertex Pharmaceuticals Incorporated $VRTX

CTC Alternative Strategies Ltd. acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,760 shares of the pharmaceutical company’s stock, valued at approximately $874,000. Vertex Pharmaceuticals makes up approximately 1.3% of CTC Alternative Strategies Ltd.’s investment portfolio, making the stock its 19th largest position.

Other institutional investors have also recently modified their holdings of the company. Summit Global Investments acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $3,568,000. Allworth Financial LP increased its holdings in Vertex Pharmaceuticals by 414.1% in the fourth quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company’s stock valued at $6,363,000 after buying an additional 11,306 shares during the last quarter. Calamos Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 77.1% in the 1st quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock worth $34,779,000 after acquiring an additional 33,917 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in shares of Vertex Pharmaceuticals by 11.9% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company’s stock valued at $15,625,000 after acquiring an additional 3,710 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $13,823,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $541.69 on Monday. Vertex Pharmaceuticals Incorporated has a 1 year low of $374.17 and a 1 year high of $555.69. The company has a market cap of $137.48 billion, a P/E ratio of 31.53, a P/E/G ratio of 2.35 and a beta of 0.30. The stock has a 50-day moving average price of $502.08 and a 200 day moving average price of $468.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the company earned $4.52 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on VRTX. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. TD Cowen lifted their target price on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. UBS Group raised their price objective on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Canaccord Genuity Group lifted their target price on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $563.50.

Insider Buying and Selling

In other news, EVP Duncan Mckechnie sold 1,541 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the sale, the executive vice president directly owned 11,001 shares of the company’s stock, valued at $5,709,519. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, July 2nd. The shares were 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 represents a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 10,464 shares of company stock worth $4,959,397. Corporate 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.