Traders Buy Vertex Pharmaceuticals (VRTX) on Weakness

Traders purchased shares of Vertex Pharmaceuticals (NASDAQ:VRTX) on weakness during trading hours on Monday. $65.39 million flowed into the stock on the tick-up and $54.73 million flowed out of the stock on the tick-down, for a money net flow of $10.66 million into the stock. Of all stocks tracked, Vertex Pharmaceuticals had the 29th highest net in-flow for the day. Vertex Pharmaceuticals traded down ($2.69) for the day and closed at $158.70

Several equities analysts have recently weighed in on the company. HC Wainwright reiterated a “hold” rating and set a $103.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Bank of America lifted their price objective on Vertex Pharmaceuticals from $180.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Leerink Swann reiterated an “outperform” rating and set a $190.00 price objective (up previously from $175.00) on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. JMP Securities reiterated an “outperform” rating and set a $211.00 price objective (up previously from $200.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, February 13th. Finally, BidaskClub upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the stock. Vertex Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $183.96.

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The stock has a market cap of $41,134.92, a PE ratio of 198.38, a P/E/G ratio of 2.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.08. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The business had revenue of $651.63 million for the quarter, compared to analyst estimates of $592.49 million. During the same quarter last year, the firm earned $0.35 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 42.1% compared to the same quarter last year. equities research analysts anticipate that Vertex Pharmaceuticals will post 1.74 earnings per share for the current year.

Vertex Pharmaceuticals declared that its board has authorized a stock buyback program on Wednesday, January 31st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the pharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

In other Vertex Pharmaceuticals news, CMO Jeffrey Chodakewitz sold 1,719 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $157.28, for a total transaction of $270,364.32. Following the transaction, the chief marketing officer now owns 56,143 shares of the company’s stock, valued at approximately $8,830,171.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul M. Silva sold 3,438 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $161.21, for a total value of $554,239.98. Following the transaction, the senior vice president now directly owns 16,225 shares in the company, valued at approximately $2,615,632.25. The disclosure for this sale can be found here. Insiders have sold a total of 339,897 shares of company stock worth $54,447,919 in the last ninety days. Insiders own 1.80% of the company’s stock.

Several large investors have recently bought and sold shares of VRTX. Renaissance Technologies LLC increased its position in shares of Vertex Pharmaceuticals by 108.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,847,917 shares of the pharmaceutical company’s stock worth $426,789,000 after purchasing an additional 1,479,897 shares during the last quarter. HealthCor Management L.P. increased its position in shares of Vertex Pharmaceuticals by 1,974.4% during the 4th quarter. HealthCor Management L.P. now owns 725,000 shares of the pharmaceutical company’s stock worth $108,649,000 after purchasing an additional 690,050 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Vertex Pharmaceuticals by 90.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,203,221 shares of the pharmaceutical company’s stock worth $180,315,000 after acquiring an additional 570,287 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Vertex Pharmaceuticals by 102.7% during the 4th quarter. Two Sigma Investments LP now owns 912,724 shares of the pharmaceutical company’s stock worth $136,781,000 after acquiring an additional 462,416 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of Vertex Pharmaceuticals by 87.7% during the 4th quarter. Guggenheim Capital LLC now owns 804,827 shares of the pharmaceutical company’s stock worth $120,611,000 after acquiring an additional 376,093 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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