Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 98,375 shares of the pharmaceutical company’s stock after purchasing an additional 17,788 shares during the period. Vertex Pharmaceuticals accounts for 1.0% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 17th largest position. Kovitz Investment Group Partners LLC’s holdings in Vertex Pharmaceuticals were worth $44,600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of VRTX. Brighton Jones LLC lifted its position in shares of Vertex Pharmaceuticals by 15.0% during 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 in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $228,000. NewEdge Advisors LLC increased its stake in Vertex Pharmaceuticals by 9.0% during the 2nd quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after buying an additional 986 shares during the period. ICW Investment Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 5.0% during the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after buying an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its holdings in Vertex Pharmaceuticals by 26.3% during the 2nd quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after buying an additional 1,518 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on VRTX shares. Jefferies Financial Group began coverage on Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They set a “buy” rating and a $580.00 price objective on the stock. Barclays lifted their target price on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price for the company in a research note on Wednesday, March 18th. Bank of America upped their price target on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, Oppenheimer increased their price target on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 dated 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 sale, the executive vice president directly owned 20,729 shares of the company’s stock, valued at $8,810,239.58. The trade was a 5.06% 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. Insiders sold 15,195 shares of company stock worth $6,801,006 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Key Headlines Impacting Vertex Pharmaceuticals

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex remains fundamentally strong, with its last reported quarter beating EPS estimates and revenue rising 8.3% year over year, while analysts still broadly rate the stock a moderate buy with a consensus target above the current share price.
• Neutral Sentiment: The company has continued to attract investor attention as a “trending” biotech name, but the recent articles do not cite any new pipeline, regulatory, or earnings catalyst to explain a bigger move.
• Negative Sentiment: CMO Carmen Bozic sold 4,062 shares at $450 each under a Rule 10b5-1 plan, and the insider transaction may be contributing to cautious trading in VRTX. Article Title
• Negative Sentiment: Recent coverage notes the stock has been slipping even as the broader market gained, suggesting investors may be taking profits or reassessing valuation after the latest run-up. Article Title

Vertex Pharmaceuticals Trading Down 1.6%

VRTX stock opened at $451.63 on Friday. The stock has a market cap of $114.62 billion, a P/E ratio of 26.79, a PEG ratio of 1.96 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92. The company’s 50 day moving average is $438.56 and its two-hundred day moving average is $453.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.06 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

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.