Tobam Buys New Shares in Vertex Pharmaceuticals Incorporated $VRTX

Tobam purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,154 shares of the pharmaceutical company’s stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after acquiring an additional 579 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $228,000. NewEdge Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after purchasing an additional 986 shares during the period. ICW Investment Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 5.0% in the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after purchasing an additional 29 shares during the period. Finally, Diversify Advisory Services LLC increased its stake in shares of Vertex Pharmaceuticals by 26.3% in the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after purchasing an additional 1,518 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $451.63 on Friday. The company’s fifty day moving average price is $438.71 and its 200-day moving average price is $453.13. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The company has a market capitalization of $114.62 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.93 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating the consensus estimate 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 net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $4.06 earnings per share. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the topic of several recent analyst reports. HC Wainwright raised their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada upped their target price on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Truist Financial initiated coverage on Vertex Pharmaceuticals in a research note on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price target for the company. Bank of America raised their price target on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Citigroup boosted their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Twenty-two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $555.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 6,988 shares of the business’s stock in a transaction dated 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 sale, the chief marketing officer directly owned 26,088 shares in the company, valued at approximately $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the transaction, the director directly owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,195 shares of company stock valued at $6,801,006 in the last 90 days. Insiders own 0.20% of the company’s stock.

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.