Bronte Capital Management Pty Ltd. Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bronte Capital Management Pty Ltd. boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,856 shares of the pharmaceutical company’s stock after purchasing an additional 37 shares during the period. Vertex Pharmaceuticals makes up about 0.8% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 17th biggest position. Bronte Capital Management Pty Ltd.’s holdings in Vertex Pharmaceuticals were worth $9,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Creative Planning raised its position in Vertex Pharmaceuticals by 5.3% during the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after buying an additional 3,998 shares during the last quarter. Blue Trust Inc. grew its position in Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after purchasing an additional 1,248 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $74,213,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $21,008,000. Finally, Canada Pension Plan Investment Board grew its holdings in Vertex Pharmaceuticals by 8.0% during the first quarter. Canada Pension Plan Investment Board now owns 386,648 shares of the pharmaceutical company’s stock worth $161,623,000 after acquiring an additional 28,747 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $501.72 on Tuesday. The company’s 50-day moving average is $475.52 and its two-hundred day moving average is $469.66. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26. The firm has a market capitalization of $129.21 billion, a price-to-earnings ratio of -252.12 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the business posted $3.67 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $472.00 to $509.00 in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Bank of America reduced their price target on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $495.96.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.