Nissay Asset Management Corp Japan Acquires 4,280 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Nissay Asset Management Corp Japan grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,743 shares of the pharmaceutical company’s stock after acquiring an additional 4,280 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Vertex Pharmaceuticals were worth $37,624,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VRTX. Summit Global Investments acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $3,568,000. Allworth Financial LP lifted its stake in shares of 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 during the period. Calamos Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 77.1% in 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 purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $1,436,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its stake in shares of Vertex Pharmaceuticals by 11.9% during the first 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 period. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president directly owned 45,321 shares of the company’s stock, valued at $23,793,071.79. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction on Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the transaction, the chief marketing officer directly owned 15,337 shares of the company’s stock, valued at approximately $7,400,102.50. This represents a 3.74% 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 have sold a total of 10,464 shares of company stock worth $4,959,397 in the last quarter. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.1%

Shares of VRTX opened at $541.69 on Friday. The firm’s 50-day moving average is $502.08 and its two-hundred day moving average is $468.67. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $555.69. The firm has a market capitalization of $137.48 billion, a P/E ratio of 31.53, a PEG ratio of 2.38 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period last year, the business posted $4.52 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on VRTX shares. Barclays increased their price target on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a report on Tuesday, August 4th. Stifel Nicolaus set a $500.00 target price on Vertex Pharmaceuticals in a research report on Tuesday, August 4th. Royal Bank Of Canada increased their target price on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Truist Financial raised their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $563.50.

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.