MUFG Securities EMEA plc Buys 5,494 Shares of Vertex Pharmaceuticals Incorporated $VRTX

MUFG Securities EMEA plc raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 112.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,401 shares of the pharmaceutical company’s stock after purchasing an additional 5,494 shares during the quarter. MUFG Securities EMEA plc’s holdings in Vertex Pharmaceuticals were worth $4,715,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $29,000. IMG Wealth Management Inc. grew its stake in Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. Colonial Trust Co SC grew its stake in Vertex Pharmaceuticals by 118.8% in the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Ares Financial Consulting LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $33,000. Finally, Archer Investment Corp grew its stake in Vertex Pharmaceuticals by 89.7% in the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after purchasing an additional 35 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $447.54 on Monday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The stock has a market cap of $113.59 billion, a PE ratio of 26.54, a P/E/G ratio of 1.92 and a beta of 0.30. The business has a 50 day moving average of $439.06 and a 200-day moving average of $451.85.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping 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%.The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.06 earnings per share. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VRTX. Barclays boosted their price target on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Stifel Nicolaus boosted their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Citigroup boosted their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Finally, 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 research report on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.91.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 318 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a 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 Joy Liu sold 1,104 shares of the business’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 value of $469,222.08. Following the completion of the sale, 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 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. Over the last ninety days, insiders sold 11,717 shares of company stock worth $5,309,945. Company insiders own 0.20% of the company’s stock.

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.