NEOS Investment Management LLC Purchases 19,219 Shares of Vertex Pharmaceuticals Incorporated $VRTX

NEOS Investment Management LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,306 shares of the pharmaceutical company’s stock after purchasing an additional 19,219 shares during the period. NEOS Investment Management LLC owned approximately 0.08% of Vertex Pharmaceuticals worth $96,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $11,975,849,000. Norges Bank acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $1,440,149,000. Bank of America Corp DE bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $1,509,651,000. Legal & General Group Plc bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $928,893,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $830,842,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Up 0.2%

NASDAQ:VRTX opened at $557.96 on Friday. The stock has a market capitalization of $141.61 billion, a PE ratio of 32.48, a P/E/G ratio of 2.42 and a beta of 0.32. Vertex Pharmaceuticals Incorporated has a 1-year low of $374.17 and a 1-year high of $560.25. The firm has a fifty day simple moving average of $508.40 and a 200 day simple moving average of $470.94.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $4.52 earnings per share. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several recent research reports. Stifel Nicolaus set a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, August 4th. Royal Bank Of Canada lifted their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. Barclays raised their price objective on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Truist Financial lifted their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $569.52.

Insider Transactions at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock in a transaction dated 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 completion of the transaction, the chief marketing officer owned 16,953 shares in the company, valued at approximately $7,628,850. This trade represents a 19.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the transaction, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,719 shares of company stock worth $4,174,147 in the last ninety days. Insiders own 0.20% of the company’s stock.

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.