Caxton Associates LLP Invests $16.09 Million in Vertex Pharmaceuticals Incorporated $VRTX

Caxton Associates LLP purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,026 shares of the pharmaceutical company’s stock, valued at approximately $16,087,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its position in shares of Vertex Pharmaceuticals by 4.6% in the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock valued at $7,850,544,000 after purchasing an additional 763,063 shares during the last quarter. State Street Corp lifted its stake in Vertex Pharmaceuticals by 0.7% in the fourth quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock valued at $5,299,569,000 after buying an additional 83,539 shares during the last quarter. Capital International Investors boosted its stake in Vertex Pharmaceuticals by 0.9% during the 4th quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock worth $2,146,041,000 after purchasing an additional 44,537 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Vertex Pharmaceuticals by 49.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after buying an additional 1,109,200 shares during the period. Finally, Norges Bank purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $1,440,149,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada increased their price objective on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Truist Financial upped their target price on shares of Vertex Pharmaceuticals from $542.00 to $560.00 and gave the company a “buy” rating in a report on Monday, July 13th. Sanford C. Bernstein dropped their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Canaccord Genuity Group cut their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research note on Tuesday, May 5th. Finally, Wall Street Zen cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $559.61.

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 shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the transaction, the director directly owned 4,924 shares of the company’s stock, 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 document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the sale, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. The trade was a 12.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 18,874 shares of company stock worth $8,707,966. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $473.09 on Friday. The firm’s 50 day moving average price is $464.96 and its two-hundred day moving average price is $459.67. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $533.67. The stock has a market cap of $120.07 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.13 and a beta of 0.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm posted $4.06 earnings per share. Vertex Pharmaceuticals’s revenue was up 8.3% compared to the same quarter last year. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current fiscal 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.