iSAM Funds UK Ltd Boosts Holdings in Vertex Pharmaceuticals Incorporated $VRTX

iSAM Funds UK Ltd raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 177.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,080 shares of the pharmaceutical company’s stock after acquiring an additional 1,330 shares during the period. Vertex Pharmaceuticals makes up about 0.7% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 29th largest position. iSAM Funds UK Ltd’s holdings in Vertex Pharmaceuticals were worth $1,033,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VRTX. Bangor Savings Bank raised its holdings in shares of Vertex Pharmaceuticals by 0.4% in the second quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company’s stock worth $2,220,000 after buying an additional 20 shares during the period. Trust Point Inc. boosted its holdings in Vertex Pharmaceuticals by 2.7% during the 2nd quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company’s stock valued at $394,000 after acquiring an additional 21 shares during the period. Williams Jones Wealth Management LLC. grew its position in Vertex Pharmaceuticals by 1.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock valued at $524,000 after acquiring an additional 21 shares during the last quarter. Cannell & Spears LLC grew its position in Vertex Pharmaceuticals by 1.2% in the 1st quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock valued at $885,000 after acquiring an additional 23 shares during the last quarter. Finally, Glenview Trust Co increased its stake in Vertex Pharmaceuticals by 0.3% in the fourth quarter. Glenview Trust Co now owns 7,005 shares of the pharmaceutical company’s stock worth $3,176,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 596 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total transaction of $287,570.00. Following the sale, the chief marketing officer owned 15,337 shares of the company’s stock, valued at $7,400,102.50. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, July 2nd. The shares were 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 owned 45,321 shares in the company, valued at $23,793,071.79. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays upped 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. Morgan Stanley started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday. They issued an “overweight” rating and a $665.00 price objective for the company. Royal Bank Of Canada upped their target price on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $569.52.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $556.75 on Thursday. The firm has a 50-day simple moving average of $506.85 and a 200-day simple moving average of $470.48. Vertex Pharmaceuticals Incorporated has a one year low of $374.17 and a one year high of $558.36. The firm has a market cap of $141.30 billion, a P/E ratio of 32.41, a P/E/G ratio of 2.38 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data 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). The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. Vertex Pharmaceuticals’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.52 earnings per share. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal 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.