NEOS Investment Management LLC Has $96.02 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

NEOS Investment Management LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,306 shares of the pharmaceutical company’s stock after purchasing an additional 19,219 shares during the quarter. NEOS Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $96,021,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 4,062 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan McKechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the transaction, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. This trade represents a 12.29% 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 have sold a total of 8,719 shares of company stock valued at $4,174,147 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $557.96 on Friday. The business has a fifty day moving average price of $508.40 and a two-hundred day moving average price of $470.94. 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 fifty-two week low of $374.17 and a fifty-two week high of $560.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 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 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 firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.52 EPS. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VRTX. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Stifel Nicolaus set a $500.00 price target on Vertex Pharmaceuticals in a report on Tuesday, August 4th. TD Cowen boosted their price target on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Cantor Fitzgerald upped their price objective on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Barclays lifted their target price on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $569.52.

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.