Horizon Investments LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Horizon Investments LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,375 shares of the pharmaceutical company’s stock after acquiring an additional 2,181 shares during the period. Horizon Investments LLC’s holdings in Vertex Pharmaceuticals were worth $5,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Capital International Investors raised its stake in Vertex Pharmaceuticals by 77.9% in the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock worth $1,836,550,000 after acquiring an additional 2,053,156 shares during the last quarter. Capital Research Global Investors raised its stake in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Capital Research Global Investors now owns 16,553,281 shares of the pharmaceutical company’s stock worth $6,482,978,000 after acquiring an additional 444,990 shares during the last quarter. Nordea Investment Management AB raised its stake in Vertex Pharmaceuticals by 1,373.1% in the 3rd quarter. Nordea Investment Management AB now owns 361,085 shares of the pharmaceutical company’s stock worth $140,119,000 after acquiring an additional 336,573 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Vertex Pharmaceuticals by 520.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 381,195 shares of the pharmaceutical company’s stock worth $149,291,000 after acquiring an additional 319,725 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Vertex Pharmaceuticals by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock worth $9,484,293,000 after acquiring an additional 243,088 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $423.92 on Monday. The stock has a market cap of $107.83 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.84 and a beta of 0.30. The business has a 50-day simple moving average of $453.82 and a 200-day simple moving average of $449.48. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $509.00.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $3.98 EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.81 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Mark E. Bunnage sold 2,021 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $930,529.03. Following the completion of the transaction, the executive vice president owned 12,914 shares in the company, valued at $5,945,993.02. The trade was a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Duncan Mckechnie sold 4,910 shares of Vertex Pharmaceuticals stock in a transaction dated 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 owned 17,559 shares of the company’s stock, valued at approximately $8,562,646.35. This represents a 21.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 80,431 shares of company stock worth $37,875,167 over the last quarter. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research analyst reports. 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. Stifel Nicolaus raised their target price on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Sanford C. Bernstein reissued an “outperform” rating and issued a $577.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Finally, Jefferies Financial Group began coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $554.83.

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.