1,068 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, Holdings Channel.com reports. The firm purchased 1,068 shares of the pharmaceutical company’s stock, valued at approximately $531,000.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Vertex Pharmaceuticals by 414.1% in the 4th quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company’s stock worth $6,363,000 after acquiring an additional 11,306 shares in the last quarter. Calamos Advisors LLC grew its stake in Vertex Pharmaceuticals by 77.1% during the first quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock valued at $34,779,000 after acquiring an additional 33,917 shares in the last quarter. Sandro Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $1,436,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its stake in Vertex Pharmaceuticals by 11.9% in the 1st 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 acquiring an additional 3,710 shares during the last quarter. Finally, Meiji Yasuda America Inc bought a new stake in Vertex Pharmaceuticals in the fourth quarter worth $1,911,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 4,062 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $450.00, for a total value of $1,827,900.00. Following the sale, the chief marketing officer owned 16,953 shares in the company, valued at approximately $7,628,850. This represents a 19.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. This trade represents a 3.20% 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 10,464 shares of company stock worth $4,959,397 over the last three months. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of several analyst reports. Royal Bank Of Canada boosted their price objective on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald raised their price target on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. UBS Group boosted their price target on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Stifel Nicolaus set a $500.00 price target on Vertex Pharmaceuticals in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $563.50.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $548.05 on Monday. The company has a fifty day simple moving average of $492.65 and a two-hundred day simple moving average of $465.88. Vertex Pharmaceuticals Incorporated has a 12-month low of $374.17 and a 12-month high of $555.32. The stock has a market cap of $139.10 billion, a P/E ratio of 31.90, a P/E/G ratio of 2.27 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the firm posted $4.52 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share 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.