Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Man Group plc

Man Group plc boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 71.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,726 shares of the pharmaceutical company’s stock after purchasing an additional 37,008 shares during the period. Man Group plc’s holdings in Vertex Pharmaceuticals were worth $35,730,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $1,374,948,000. Parnassus Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $731,283,000. Capital World Investors lifted its holdings in shares of Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock valued at $11,406,667,000 after purchasing an additional 1,514,993 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Vertex Pharmaceuticals by 15.8% during the fourth quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock valued at $4,199,713,000 after purchasing an additional 1,426,746 shares during the last quarter. Finally, Edgewood Management LLC boosted its position in shares of Vertex Pharmaceuticals by 91.2% in the 4th quarter. Edgewood Management LLC now owns 2,956,608 shares of the pharmaceutical company’s stock valued at $1,190,626,000 after purchasing an additional 1,410,238 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $434.38 on Friday. The firm has a 50 day moving average of $483.97 and a two-hundred day moving average of $464.73. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The company has a market capitalization of $111.55 billion, a price-to-earnings ratio of -197.45, a P/E/G ratio of 2.11 and a beta of 0.51. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the company posted $4.76 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In related news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the transaction, the executive vice president now owns 58,539 shares in the company, valued at $27,825,928.26. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,005 shares of company stock valued at $1,978,465. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VRTX. The Goldman Sachs Group restated a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Bank of America raised their price objective on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Finally, Barclays increased their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $515.04.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.