Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,247,658 shares of the pharmaceutical company’s stock after purchasing an additional 35,069 shares during the period. Wellington Management Group LLP’s holdings in Vertex Pharmaceuticals were worth $1,613,209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in VRTX. Motiv8 Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $26,000. Community Financial Services Group LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $26,000. Elevation Wealth Partners LLC grew its position in Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 28 shares during the period. Finally, Swiss RE Ltd. purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ourania Tatsis sold 1,500 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president owned 45,321 shares in the company, valued at $23,793,071.79. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the transaction, the chief marketing officer directly owned 16,953 shares in the company, valued at approximately $7,628,850. The trade was a 19.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,464 shares of company stock worth $4,959,397 in the last 90 days. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on VRTX. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald raised their price target on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research report on Tuesday, August 4th. Finally, UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $563.50.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $541.69 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $374.17 and a 12 month high of $555.69. The stock’s 50-day moving average is $502.08 and its two-hundred day moving average is $468.67. The stock has a market cap of $137.48 billion, a PE ratio of 31.53, a P/E/G ratio of 2.38 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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 company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. Vertex Pharmaceuticals’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.52 EPS. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.