IFM Investors Pty Ltd Has $22.80 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

IFM Investors Pty Ltd increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,070 shares of the pharmaceutical company’s stock after purchasing an additional 1,290 shares during the quarter. IFM Investors Pty Ltd’s holdings in Vertex Pharmaceuticals were worth $22,805,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Severin Investments LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $405,000. Harbor Investment Advisory LLC boosted its position in shares of Vertex Pharmaceuticals by 27.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,399 shares of the pharmaceutical company’s stock worth $625,000 after acquiring an additional 305 shares in the last quarter. Eagle Wealth Advisors LLC increased its stake in Vertex Pharmaceuticals by 13.4% in the first quarter. Eagle Wealth Advisors LLC now owns 812 shares of the pharmaceutical company’s stock valued at $363,000 after acquiring an additional 96 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in Vertex Pharmaceuticals by 3.4% during the first quarter. Premier Path Wealth Partners LLC now owns 1,870 shares of the pharmaceutical company’s stock valued at $835,000 after purchasing an additional 62 shares in the last quarter. Finally, Mayflower Financial Advisors LLC raised its position in Vertex Pharmaceuticals by 24.4% during the first quarter. Mayflower Financial Advisors LLC now owns 1,751 shares of the pharmaceutical company’s stock valued at $782,000 after purchasing an additional 343 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VRTX. Sanford C. Bernstein reduced their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Bank of America boosted 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. Citigroup upped their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Canaccord Genuity Group reduced their price objective on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research note on Tuesday, May 5th. Finally, Morgan Stanley lifted their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Twenty-two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 6,988 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the transaction, the chief marketing officer owned 26,088 shares of the company’s stock, valued at $11,739,600. This represents a 21.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the completion of the transaction, the executive vice president owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. This trade represents a 5.06% 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. Over the last three months, insiders sold 15,833 shares of company stock worth $7,120,702. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $496.73 on Wednesday. The company has a fifty day moving average of $444.56 and a 200-day moving average of $455.05. The company has a market capitalization of $126.07 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The company 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%.Vertex Pharmaceuticals’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.06 EPS. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

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.