Y Intercept Hong Kong Ltd Takes Position in Vertex Pharmaceuticals Incorporated $VRTX

Y Intercept Hong Kong Ltd purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, Holdings Channel.com reports. The fund purchased 27,770 shares of the pharmaceutical company’s stock, valued at approximately $10,876,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. Lee Johnson Capital Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the second quarter worth approximately $721,000. Police & Firemen s Retirement System of New Jersey lifted its position in Vertex Pharmaceuticals by 3.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after purchasing an additional 1,393 shares during the period. Bailard Inc. boosted its holdings in Vertex Pharmaceuticals by 0.5% in the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock worth $16,983,000 after purchasing an additional 200 shares during the last quarter. SteelPeak Wealth LLC purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $10,059,000. Finally, Moody Lynn & Lieberson LLC lifted its holdings in shares of Vertex Pharmaceuticals by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after buying an additional 822 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.2%

Shares of NASDAQ:VRTX opened at $468.41 on Friday. The stock has a 50 day moving average of $449.07 and a 200 day moving average of $427.48. The company has a market cap of $118.84 billion, a PE ratio of 33.03 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.38 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This represents a 27.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. The trade was a 72.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 165,105 shares of company stock worth $73,858,523. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on VRTX. Scotiabank began coverage on Vertex Pharmaceuticals in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective for the company. Wolfe Research raised Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price on the stock in a research report on Tuesday, January 6th. JPMorgan Chase & Co. boosted their price target on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Leerink Partners increased their price objective on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research note on Monday, December 29th. Finally, Stifel Nicolaus dropped their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $513.10.

About Vertex Pharmaceuticals

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.