Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Nissay Asset Management Corp Japan

Nissay Asset Management Corp Japan raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.0% during the 2nd quarter, Holdings Channel reports. The firm owned 75,743 shares of the pharmaceutical company’s stock after purchasing an additional 4,280 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Vertex Pharmaceuticals were worth $37,624,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Community Financial Services Group LLC purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new position in Vertex Pharmaceuticals during the second quarter worth $26,000. Motiv8 Investments LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth $26,000. Elevation Wealth Partners LLC raised its holdings 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 acquiring an additional 28 shares during the last quarter. Finally, Swiss RE Ltd. acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $28,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $541.69 on Friday. The business has a 50-day moving average of $502.08 and a two-hundred day moving average of $468.67. The firm has a market capitalization of $137.48 billion, a PE ratio of 31.53, a P/E/G ratio of 2.38 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $374.17 and a 12 month high of $555.69.

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

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the completion of the sale, the chief marketing officer directly owned 16,953 shares of the company’s stock, valued at $7,628,850. The trade was a 19.33% decrease in their position. 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 quarter, insiders have sold 10,464 shares of company stock worth $4,959,397. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on VRTX. Cantor Fitzgerald increased their price objective on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Stifel Nicolaus set a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Royal Bank Of Canada raised their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $563.50.

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.