Sivik Global Healthcare LLC Makes New $5.48 Million Investment in Vertex Pharmaceuticals Incorporated $VRTX

Sivik Global Healthcare LLC acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,000 shares of the pharmaceutical company’s stock, valued at approximately $5,483,000. Vertex Pharmaceuticals accounts for 1.6% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Access Investment Management LLC purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $27,000. Chesapeake Asset Management LLC increased its position in Vertex Pharmaceuticals by 110.0% during the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Finally, Total Investment Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 4.4%

Shares of NASDAQ VRTX opened at $468.58 on Wednesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The firm has a market cap of $118.89 billion, a PE ratio of 33.05 and a beta of 0.31. The business has a fifty day simple moving average of $440.40 and a two-hundred day simple moving average of $426.49.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.38 EPS. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on VRTX. Leerink Partners raised their price objective on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research note on Monday, December 29th. Evercore ISI decreased their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research note on Thursday, September 11th. Wells Fargo & Company upped their price objective on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $503.80.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the transaction, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This represents a 27.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 151,073 shares of company stock worth $67,326,816 in the last three months. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals 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.