NEOS Investment Management LLC Purchases 37,296 Shares of Vertex Pharmaceuticals Incorporated $VRTX

NEOS Investment Management LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 48.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 113,533 shares of the pharmaceutical company’s stock after buying an additional 37,296 shares during the period. NEOS Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $44,464,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey boosted its stake in Vertex Pharmaceuticals by 3.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock worth $17,378,000 after purchasing an additional 1,393 shares during the period. Bailard Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 0.5% in the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after purchasing an additional 200 shares in the last quarter. Leuthold Group LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $5,030,000. Advisory Resource Group bought a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $1,286,000. Finally, Generali Asset Management SPA SGR grew its holdings in shares of Vertex Pharmaceuticals by 41.8% during the third quarter. Generali Asset Management SPA SGR now owns 23,569 shares of the pharmaceutical company’s stock worth $9,231,000 after buying an additional 6,942 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 14,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $17,202,600. The trade was a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan Biller sold 1,925 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total transaction of $886,327.75. Following the completion of the transaction, the executive vice president owned 20,819 shares in the company, valued at approximately $9,585,692.17. This represents a 8.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,352 shares of company stock worth $45,037,314 in the last three months. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore upped their price target on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $478.00 to $518.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company raised their target price on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Morgan Stanley reiterated an “overweight” rating and issued a $570.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday. Finally, Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $537.05.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $491.47 on Tuesday. The company has a fifty day moving average price of $460.97 and a two-hundred day moving average price of $427.43. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The stock has a market cap of $124.70 billion, a P/E ratio of 32.06 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing the consensus estimate of $5.05 by ($0.02). The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.98 earnings per share. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.