Phoenix Financial Ltd. Boosts Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Phoenix Financial Ltd. boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 57.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,841 shares of the pharmaceutical company’s stock after purchasing an additional 1,401 shares during the period. Phoenix Financial Ltd.’s holdings in Vertex Pharmaceuticals were worth $1,504,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in VRTX. Chesapeake Asset Management LLC lifted its stake in Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after acquiring an additional 33 shares during the period. Access Investment Management LLC bought a new position in Vertex Pharmaceuticals in the second quarter worth about $27,000. Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Total Investment Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $33,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after purchasing an additional 29 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, January 21st. Citigroup lifted their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Wells Fargo & Company raised their target price on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Royal Bank Of Canada raised Vertex Pharmaceuticals from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $455.00 to $546.00 in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upped their price target on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $522.68.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 63,781 shares of the stock in a transaction dated 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 transaction, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. This represents a 72.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the completion of the transaction, the executive vice president directly owned 42,293 shares in the company, valued at approximately $20,088,752.07. The trade was a 9.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 165,105 shares of company stock worth $73,858,523 over the last quarter. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.6%

Shares of VRTX opened at $474.17 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The business’s fifty day simple moving average is $450.70 and its two-hundred day simple moving average is $426.86. The company has a market cap of $120.31 billion, a price-to-earnings ratio of 33.44 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, topping the consensus estimate of $4.58 by $0.22. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.Vertex Pharmaceuticals’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $4.38 EPS. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.