iSAM Funds UK Ltd Grows Stake in Vertex Pharmaceuticals Incorporated $VRTX

iSAM Funds UK Ltd raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 177.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,080 shares of the pharmaceutical company’s stock after purchasing an additional 1,330 shares during the period. Vertex Pharmaceuticals accounts for approximately 0.7% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 29th biggest holding. iSAM Funds UK Ltd’s holdings in Vertex Pharmaceuticals were worth $1,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Summit Global Investments acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $3,568,000. Allworth Financial LP increased its stake in Vertex Pharmaceuticals by 414.1% during the 4th quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company’s stock valued at $6,363,000 after purchasing an additional 11,306 shares in the last quarter. Calamos Advisors LLC increased its stake in Vertex Pharmaceuticals by 77.1% during the 1st quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock valued at $34,779,000 after purchasing an additional 33,917 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in shares of Vertex Pharmaceuticals by 11.9% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company’s stock worth $15,625,000 after buying an additional 3,710 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth $13,823,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the transaction, the executive vice president owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their position. The transaction was disclosed in a legal 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, CMO Carmen Bozic sold 4,062 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00. Following the transaction, the chief marketing officer owned 16,953 shares of the company’s stock, valued at $7,628,850. This trade represents a 19.33% 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. In the last 90 days, insiders have sold 10,464 shares of company stock valued at $4,959,397. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VRTX. Barclays boosted their price objective on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Cantor Fitzgerald lifted their price target on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Morgan Stanley initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday. They set an “overweight” rating and a $665.00 price target on the stock. Canaccord Genuity Group increased their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Finally, TD Cowen raised their price objective on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $569.52.

Vertex Pharmaceuticals Trading Up 1.7%

NASDAQ VRTX opened at $556.75 on Thursday. The stock has a market cap of $141.30 billion, a PE ratio of 32.41, a P/E/G ratio of 2.38 and a beta of 0.32. The stock has a fifty day simple moving average of $506.85 and a 200-day simple moving average of $470.48. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $558.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the company earned $4.52 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

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.