Profund Advisors LLC Purchases 2,423 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Profund Advisors LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,818 shares of the pharmaceutical company’s stock after acquiring an additional 2,423 shares during the period. Profund Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $13,065,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in Vertex Pharmaceuticals by 37.0% in the 4th quarter. ProShare Advisors LLC now owns 457,046 shares of the pharmaceutical company’s stock worth $207,206,000 after acquiring an additional 123,314 shares during the last quarter. HighTower Advisors LLC grew its holdings in Vertex Pharmaceuticals by 8.1% in the 4th quarter. HighTower Advisors LLC now owns 47,559 shares of the pharmaceutical company’s stock worth $21,561,000 after acquiring an additional 3,544 shares during the last quarter. Entrust Financial LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth $44,000. TD Private Client Wealth LLC grew its holdings in Vertex Pharmaceuticals by 2.9% in the 4th quarter. TD Private Client Wealth LLC now owns 1,843 shares of the pharmaceutical company’s stock worth $836,000 after acquiring an additional 52 shares during the last quarter. Finally, Mission Wealth Management LP grew its holdings in Vertex Pharmaceuticals by 2.2% in the 4th quarter. Mission Wealth Management LP now owns 4,056 shares of the pharmaceutical company’s stock worth $1,839,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $436.58 on Tuesday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The company’s 50-day simple moving average is $445.08 and its 200 day simple moving average is $450.71. The firm has a market capitalization of $110.80 billion, a P/E ratio of 25.89, a PEG ratio of 1.87 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.06 earnings per share. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.97 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Duncan Mckechnie sold 4,910 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the completion of the sale, the executive vice president directly owned 17,559 shares in the company, valued at approximately $8,562,646.35. The trade was a 21.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Carmen Bozic sold 6,988 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the sale, the chief marketing officer owned 26,088 shares of the company’s stock, valued at $11,739,600. This trade represents a 21.13% 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 sold 79,802 shares of company stock valued at $37,402,568 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VRTX shares. Maxim Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target on the stock in a report on Wednesday, March 18th. Weiss Ratings lowered shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, April 14th. Morgan Stanley lifted their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Scotiabank lifted their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, Truist Financial raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $555.17.

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.