Havemeyer Place LP Purchases Shares of 2,057 Vertex Pharmaceuticals Incorporated $VRTX

Havemeyer Place LP purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 2,057 shares of the pharmaceutical company’s stock, valued at approximately $933,000.

Several other large investors have also added to or reduced their stakes in VRTX. Colonial Trust Co SC lifted its holdings in Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $29,000. IMG Wealth Management Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after buying an additional 50 shares in the last quarter. Ares Financial Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $33,000. Finally, Archer Investment Corp lifted its holdings in shares of Vertex Pharmaceuticals by 89.7% in the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 6,988 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the sale, the chief marketing officer owned 26,088 shares in the company, valued at approximately $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $425.02, for a total transaction of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. This represents a 5.06% 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 90 days, insiders have sold 11,717 shares of company stock worth $5,309,945. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Truist Financial assumed coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, May 27th. They issued a “buy” rating and a $542.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $590.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Citigroup boosted their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $555.91.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $446.83 on Monday. The company’s fifty day moving average is $437.33 and its 200 day moving average is $451.93. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92. The stock has a market capitalization of $113.41 billion, a PE ratio of 26.50, a P/E/G ratio of 1.91 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the business posted $4.06 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

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.