Fideuram Intesa Sanpaolo Private Banking S.P.A. Has $15.62 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.9% during the first quarter, HoldingsChannel.com reports. The firm owned 34,991 shares of the pharmaceutical company’s stock after acquiring an additional 3,710 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Vertex Pharmaceuticals were worth $15,625,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Motiv8 Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $26,000. Swiss RE Ltd. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $28,000. Eagle Bay Advisors LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $29,000. IMG Wealth Management Inc. grew its holdings in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 50 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth $33,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price target on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Barclays upped their price objective on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Truist Financial began coverage on Vertex Pharmaceuticals in a research note on Wednesday, May 27th. They issued a “buy” rating and a $542.00 target price on the stock. Oppenheimer raised their target price on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings lowered Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Twenty-one equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.91.

Vertex Pharmaceuticals Stock Up 6.0%

VRTX opened at $528.04 on Friday. The stock has a market cap of $134.02 billion, a P/E ratio of 31.32, a P/E/G ratio of 2.13 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $529.14. The company has a fifty day simple moving average of $447.57 and a 200 day simple moving average of $455.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.06 earnings per share. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CMO Carmen Bozic sold 596 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $482.50, for a total value of $287,570.00. Following the completion of the transaction, the chief marketing officer owned 15,337 shares in the company, valued at $7,400,102.50. This represents a 3.74% 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, EVP Joy Liu sold 1,104 shares of the 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 sale, the executive vice president directly owned 20,729 shares of the company’s stock, valued at $8,810,239.58. This represents a 5.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 15,833 shares of company stock valued at $7,120,702. 0.20% of the stock is owned by corporate insiders.

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.