Harvest Fund Management Co. Ltd Buys 3,527 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Harvest Fund Management Co. Ltd raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 54,198 shares of the pharmaceutical company’s stock after acquiring an additional 3,527 shares during the period. Vertex Pharmaceuticals makes up approximately 0.9% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 20th biggest position. Harvest Fund Management Co. Ltd’s holdings in Vertex Pharmaceuticals were worth $24,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Bay Advisors LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $29,000. IMG Wealth Management Inc. lifted its stake in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares during the period. Colonial Trust Co SC lifted its stake in shares of Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 38 shares during the period. Ares Financial Consulting LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $33,000. Finally, Archer Investment Corp lifted its stake in shares of Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 35 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $441.74 on Friday. The business has a 50-day moving average of $437.49 and a 200-day moving average of $451.84. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92. The company has a market capitalization of $112.11 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.84 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the company earned $4.06 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.99 EPS for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the topic of several recent research reports. HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Cantor Fitzgerald restated an “overweight” rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Citigroup increased their price objective on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Barclays increased their price objective on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Twenty-two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $555.91.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the transaction, the director owned 4,924 shares of the company’s stock, valued at $2,086,446.52. This trade represents a 6.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the sale, the executive vice president owned 20,729 shares in the company, valued at $8,810,239.58. The trade was a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,717 shares of company stock valued at $5,309,945 in the last quarter. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company 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.