Investors Buy Vertex Pharmaceuticals Incorporated (VRTX) on Weakness

Investors purchased shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on weakness during trading hours on Monday. $78.54 million flowed into the stock on the tick-up and $67.58 million flowed out of the stock on the tick-down, for a money net flow of $10.96 million into the stock. Of all equities tracked, Vertex Pharmaceuticals had the 26th highest net in-flow for the day. Vertex Pharmaceuticals traded down ($1.02) for the day and closed at $157.81

Several analysts have issued reports on VRTX shares. Vetr lowered shares of Vertex Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $102.62 price target on the stock. in a research report on Tuesday, May 16th. Morgan Stanley reiterated an “overweight” rating and set a $153.00 target price (up from $150.00) on shares of Vertex Pharmaceuticals in a research report on Friday, May 19th. Bank of America Corporation reiterated a “neutral” rating and set a $125.00 target price (up from $121.00) on shares of Vertex Pharmaceuticals in a research report on Friday, May 19th. JMP Securities reiterated an “outperform” rating and set a $127.00 target price (up from $125.00) on shares of Vertex Pharmaceuticals in a research report on Friday, May 19th. Finally, UBS AG reiterated a “buy” rating and set a $135.00 target price (up from $132.00) on shares of Vertex Pharmaceuticals in a research report on Friday, May 19th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $162.88.

The company’s 50 day moving average is $155.36 and its 200 day moving average is $125.74. The stock has a market capitalization of $39.54 billion, a PE ratio of 150.64 and a beta of 1.75.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.33. The firm had revenue of $544.10 million during the quarter, compared to analyst estimates of $489.95 million. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The company’s revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.60 EPS for the current fiscal year.

In other news, CMO Jeffrey Chodakewitz sold 573 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 17th. The shares were sold at an average price of $129.85, for a total value of $74,404.05. Following the completion of the sale, the chief marketing officer now owns 123,084 shares in the company, valued at approximately $15,982,457.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey M. Leiden sold 216,624 shares of Vertex Pharmaceuticals stock in a transaction on Friday, July 21st. The shares were sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the completion of the sale, the chief executive officer now owns 400,266 shares of the company’s stock, valued at approximately $64,426,815.36. The disclosure for this sale can be found here. Insiders sold a total of 526,092 shares of company stock valued at $84,101,702 in the last quarter. 1.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTX. Guardian Life Insurance Co. of America grew its position in Vertex Pharmaceuticals by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 956 shares of the pharmaceutical company’s stock valued at $105,000 after purchasing an additional 6 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Vertex Pharmaceuticals by 15.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock valued at $127,000 after purchasing an additional 132 shares during the period. FNY Partners Fund LP grew its position in Vertex Pharmaceuticals by 900.0% in the 2nd quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock valued at $128,000 after purchasing an additional 900 shares during the period. Dupont Capital Management Corp acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $186,000. Finally, State of Alaska Department of Revenue acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $197,000. 92.88% of the stock is owned by institutional investors and hedge funds.

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Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

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