Generali Asset Management SPA SGR Acquires 6,942 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Generali Asset Management SPA SGR lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 41.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,569 shares of the pharmaceutical company’s stock after purchasing an additional 6,942 shares during the period. Generali Asset Management SPA SGR’s holdings in Vertex Pharmaceuticals were worth $9,231,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chesapeake Asset Management LLC lifted its holdings in Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after buying an additional 33 shares during the period. Access Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $27,000. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $29,000. Flaharty Asset Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the first quarter worth approximately $32,000. Finally, Total Investment Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the second quarter worth approximately $33,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This trade represents a 27.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, 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 position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 151,073 shares of company stock worth $67,326,816. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Stifel Nicolaus decreased their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. UBS Group raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Evercore ISI decreased their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $502.05.

Vertex Pharmaceuticals Trading Down 0.1%

NASDAQ:VRTX opened at $453.36 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The stock has a market capitalization of $115.03 billion, a price-to-earnings ratio of 31.97 and a beta of 0.31. The firm has a fifty day simple moving average of $438.29 and a two-hundred day simple moving average of $426.55.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.22. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.38 earnings per share. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals 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.