Vertex Pharmaceuticals Incorporated $VRTX Stake Lifted by Atle Fund Management AB

Atle Fund Management AB raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 29.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,984 shares of the pharmaceutical company’s stock after purchasing an additional 5,218 shares during the quarter. Vertex Pharmaceuticals comprises about 3.3% of Atle Fund Management AB’s investment portfolio, making the stock its 9th biggest position. Atle Fund Management AB’s holdings in Vertex Pharmaceuticals were worth $10,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Earned Wealth Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after acquiring an additional 21 shares during the last quarter. Confluence Wealth Services Inc. grew its stake in Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after purchasing an additional 21 shares in the last quarter. Childress Capital Advisors LLC grew its stake in Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock worth $331,000 after purchasing an additional 22 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in Vertex Pharmaceuticals by 0.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock worth $2,279,000 after purchasing an additional 24 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in Vertex Pharmaceuticals by 28.1% in the fourth quarter. JFS Wealth Advisors LLC now owns 114 shares of the pharmaceutical company’s stock valued at $52,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 58,613 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $468.83, for a total value of $27,479,532.79. Following the transaction, the executive vice president owned 58,934 shares of the company’s stock, valued at approximately $27,630,027.22. This represents a 49.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Duncan Mckechnie sold 4,910 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the completion of the transaction, the executive vice president directly owned 17,559 shares in the company, valued at $8,562,646.35. This represents a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,802 shares of company stock valued at $37,402,568 in the last three months. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $434.31 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92. The stock has a market cap of $110.23 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.87 and a beta of 0.30. The stock’s 50 day moving average price is $444.63 and its 200 day moving average price is $450.83.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.06 earnings per share. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VRTX. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price for the company in a research note on Wednesday, March 18th. Jefferies Financial Group began coverage on Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price for the company. Evercore lifted their target price on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. HC Wainwright lifted their target price on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $555.17.

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.