Generate Investment Management Ltd Has $280,000 Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Generate Investment Management Ltd decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 97.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 628 shares of the pharmaceutical company’s stock after selling 25,706 shares during the quarter. Generate Investment Management Ltd’s holdings in Vertex Pharmaceuticals were worth $280,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in VRTX. Earned Wealth Advisors LLC increased its holdings in Vertex Pharmaceuticals by 3.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after purchasing an additional 21 shares during the last quarter. Confluence Wealth Services Inc. grew its position in shares of Vertex Pharmaceuticals by 4.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after buying an additional 21 shares during the period. Williams Jones Wealth Management LLC. grew its position in shares of Vertex Pharmaceuticals by 1.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after buying an additional 21 shares during the period. Childress Capital Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 3.1% in the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after acquiring an additional 22 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its position in shares of Vertex Pharmaceuticals by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock valued at $2,279,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VRTX. Barclays lifted their price objective on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. Maxim Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price on the stock in a report on Wednesday, March 18th. HC Wainwright lifted their price target on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Finally, Canaccord Genuity Group decreased their price target on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a report on Tuesday, May 5th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $555.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Joy Liu sold 1,104 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction 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 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 15,195 shares of company stock valued at $6,801,006. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $466.79 on Tuesday. 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 $118.47 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.30. The business’s 50-day simple moving average is $439.11 and its 200-day simple moving average is $453.56.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the firm earned $4.06 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts expect 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.