1,154 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Tobam

Tobam acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,154 shares of the pharmaceutical company’s stock, valued at approximately $523,000.

Other large investors have also bought and sold shares of the company. Motiv8 Investments LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $26,000. Colonial Trust Co SC lifted its position in Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Swiss RE Ltd. bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $28,000. Eagle Bay Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $29,000. Finally, IMG Wealth Management Inc. increased its holdings in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRTX. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target for the company in a research note on Wednesday, March 18th. Bank of America increased their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. HC Wainwright lifted their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Barclays boosted their target price on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. Twenty-two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.91.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction that occurred 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 transaction, the director owned 4,924 shares in the company, valued at $2,086,446.52. This represents a 6.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total transaction of $469,222.08. Following the completion of the transaction, the executive vice president directly owned 20,729 shares in the company, valued at approximately $8,810,239.58. The trade was a 5.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 15,195 shares of company stock valued at $6,801,006. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $451.63 on Friday. The business’s fifty day moving average price is $438.71 and its 200-day moving average price is $453.13. The stock has a market capitalization of $114.62 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.93 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.Vertex Pharmaceuticals’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.06 earnings per share. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 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.