Rare Wolf Capital LLC Makes New $914,000 Investment in Vertex Pharmaceuticals Incorporated $VRTX

Rare Wolf Capital LLC bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,015 shares of the pharmaceutical company’s stock, valued at approximately $914,000.

Several other hedge funds also recently modified their holdings of the business. Danske Bank A S acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $64,417,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Vertex Pharmaceuticals by 3.8% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company’s stock valued at $213,435,000 after buying an additional 20,053 shares during the period. Legacy Capital Group California Inc. bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $956,000. Victory Capital Management Inc. increased its position in shares of Vertex Pharmaceuticals by 4.3% during the third quarter. Victory Capital Management Inc. now owns 2,247,566 shares of the pharmaceutical company’s stock worth $880,237,000 after acquiring an additional 92,402 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Vertex Pharmaceuticals by 23.8% during the fourth quarter. Nordea Investment Management AB now owns 447,169 shares of the pharmaceutical company’s stock worth $202,612,000 after acquiring an additional 86,084 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on VRTX shares. Bank of America boosted their price objective on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada lifted their price target on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. HC Wainwright boosted their price target on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Oppenheimer upped their price objective on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Finally, Citigroup increased their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Twenty-two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $555.91.

More Vertex Pharmaceuticals News

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex remains fundamentally strong, with its last reported quarter beating EPS estimates and revenue rising 8.3% year over year, while analysts still broadly rate the stock a moderate buy with a consensus target above the current share price.
• Neutral Sentiment: The company has continued to attract investor attention as a “trending” biotech name, but the recent articles do not cite any new pipeline, regulatory, or earnings catalyst to explain a bigger move.
• Negative Sentiment: CMO Carmen Bozic sold 4,062 shares at $450 each under a Rule 10b5-1 plan, and the insider transaction may be contributing to cautious trading in VRTX. Article Title
• Negative Sentiment: Recent coverage notes the stock has been slipping even as the broader market gained, suggesting investors may be taking profits or reassessing valuation after the latest run-up. Article Title

Insiders Place Their Bets

In related news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the transaction, the director directly owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the transaction, the chief marketing officer owned 26,088 shares in the company, valued at approximately $11,739,600. The trade was a 21.13% 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 15,195 shares of company stock valued at $6,801,006 in the last 90 days. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Trading Down 1.6%

Shares of VRTX opened at $451.63 on Friday. The stock has a market capitalization of $114.62 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.96 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92. The firm has a fifty day simple moving average of $438.56 and a 200 day simple moving average of $453.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the company posted $4.06 earnings per share. Vertex Pharmaceuticals’s revenue was up 8.3% on a year-over-year basis. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

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.