366,854 Shares in Vertex Pharmaceuticals Incorporated $VRTX Acquired by Life Cycle Investment Partners Ltd

Life Cycle Investment Partners Ltd acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 366,854 shares of the pharmaceutical company’s stock, valued at approximately $166,317,000. Vertex Pharmaceuticals makes up 1.2% of Life Cycle Investment Partners Ltd’s holdings, making the stock its 22nd biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Earned Wealth Advisors LLC lifted its position in Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after buying an additional 21 shares in the last quarter. Confluence Wealth Services Inc. raised its position in Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after purchasing an additional 21 shares during the period. Childress Capital Advisors LLC raised its position in Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after purchasing an additional 22 shares during the period. Central Pacific Bank Trust Division raised its position in Vertex Pharmaceuticals by 0.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock valued at $2,279,000 after purchasing an additional 24 shares during the period. Finally, JFS Wealth Advisors LLC raised its position in Vertex Pharmaceuticals by 28.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock valued at $52,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price on the stock in a research report on Wednesday, March 18th. Canaccord Genuity Group reduced their target price on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research report on Tuesday, May 5th. Bank of America lifted their target price on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Jefferies Financial Group initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price on the stock. Finally, 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 research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $555.17.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 318 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the transaction, the director directly owned 4,924 shares of the company’s stock, valued at $2,086,446.52. The trade was a 6.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Kristen Ambrose sold 223 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $108,456.05. Following the transaction, the chief accounting officer directly owned 6,981 shares of the company’s stock, valued at $3,395,209.35. The trade was a 3.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,189 shares of company stock worth $9,923,036. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 0.2%

VRTX stock opened at $434.52 on Friday. The company has a market capitalization of $110.28 billion, a PE ratio of 25.77, a P/E/G ratio of 1.86 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The business’s fifty day moving average price is $441.55 and its 200 day moving average price is $450.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.06 EPS. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current fiscal year.

Vertex Pharmaceuticals Company 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.