Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Czech National Bank

Czech National Bank grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,243 shares of the pharmaceutical company’s stock after buying an additional 3,067 shares during the quarter. Czech National Bank’s holdings in Vertex Pharmaceuticals were worth $35,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC lifted its position in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares during the period. Gamco Investors INC. ET AL bought a new position in Vertex Pharmaceuticals during the second quarter valued at about $228,000. NewEdge Advisors LLC grew its holdings in Vertex Pharmaceuticals by 9.0% during the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after acquiring an additional 986 shares during the period. ICW Investment Advisors LLC raised its position in Vertex Pharmaceuticals by 5.0% in the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after acquiring an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its holdings in Vertex Pharmaceuticals by 26.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after acquiring an additional 1,518 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 6,988 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the sale, the chief marketing officer directly owned 26,088 shares of the company’s stock, valued at approximately $11,739,600. This represents a 21.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the firm’s 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 sale, the executive vice president owned 11,001 shares of the company’s stock, valued at $5,709,519. The trade was a 12.29% 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 ninety days, insiders have sold 17,452 shares of company stock valued at $8,103,997. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $484.03 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $533.67. The stock has a market cap of $122.85 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.99 and a beta of 0.30. The firm’s 50 day moving average price is $473.87 and its two-hundred day moving average price is $461.27.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. Vertex Pharmaceuticals’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.52 EPS. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group increased their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Canaccord Genuity Group increased their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research report on Tuesday. Royal Bank Of Canada lifted their target price on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, Sanford C. Bernstein raised Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $563.50.

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.