Formuepleje A S Invests $1.20 Million in Vertex Pharmaceuticals Incorporated $VRTX

Formuepleje A S bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,409 shares of the pharmaceutical company’s stock, valued at approximately $1,197,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in Vertex Pharmaceuticals by 50,904.3% during the second quarter. California State Teachers Retirement System now owns 190,491,484 shares of the pharmaceutical company’s stock worth $94,622,835,000 after purchasing an additional 190,118,003 shares during the last quarter. BlackRock Inc. purchased a new stake in Vertex Pharmaceuticals during the second quarter worth $11,975,849,000. Capital Research Global Investors grew its holdings in Vertex Pharmaceuticals by 4.6% in the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock valued at $7,850,544,000 after purchasing an additional 763,063 shares during the last quarter. State Street Corp grew its holdings in Vertex Pharmaceuticals by 0.7% in the fourth quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock valued at $5,299,569,000 after purchasing an additional 83,539 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Vertex Pharmaceuticals by 0.9% in the fourth quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock valued at $2,146,041,000 after buying an additional 44,537 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $546.12 on Monday. The business has a 50-day moving average of $509.50 and a two-hundred day moving average of $471.33. The firm has a market capitalization of $138.61 billion, a PE ratio of 31.79, a P/E/G ratio of 2.37 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 12 month low of $374.17 and a 12 month high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the firm earned $4.52 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VRTX shares. TD Cowen lifted their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada raised their price objective 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. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Stifel Nicolaus set a $500.00 target price on Vertex Pharmaceuticals in a report on Tuesday, August 4th. Finally, Cantor Fitzgerald raised their price target on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $569.52.

Insider Buying and Selling

In related news, EVP Duncan McKechnie sold 1,541 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,719 shares of company stock valued at $4,174,147 in the last quarter. 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.