MBB Public Markets I LLC Boosts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

MBB Public Markets I LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2,398.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,114 shares of the pharmaceutical company’s stock after acquiring an additional 17,389 shares during the period. MBB Public Markets I LLC’s holdings in Vertex Pharmaceuticals were worth $8,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Daymark Wealth Partners LLC raised its position in Vertex Pharmaceuticals by 38.9% during the second quarter. Daymark Wealth Partners LLC now owns 782 shares of the pharmaceutical company’s stock valued at $367,000 after acquiring an additional 219 shares in the last quarter. DE Burlo Group Inc. grew its position in Vertex Pharmaceuticals by 21.3% during the second quarter. DE Burlo Group Inc. now owns 48,565 shares of the pharmaceutical company’s stock valued at $22,763,000 after buying an additional 8,525 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in Vertex Pharmaceuticals in the second quarter valued at $598,000. Decatur Capital Management Inc. boosted its stake in shares of Vertex Pharmaceuticals by 2.5% during the 2nd quarter. Decatur Capital Management Inc. now owns 8,901 shares of the pharmaceutical company’s stock worth $4,172,000 after acquiring an additional 221 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in shares of Vertex Pharmaceuticals by 16.3% in the 2nd quarter. APG Asset Management N.V. now owns 357,884 shares of the pharmaceutical company’s stock valued at $156,517,000 after purchasing an additional 50,190 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.3 %

Vertex Pharmaceuticals stock opened at $463.15 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The firm has a 50 day moving average price of $480.99 and a 200 day moving average price of $453.16. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64. The company has a market capitalization of $119.54 billion, a PE ratio of 30.06 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company posted $3.53 EPS. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. TD Cowen raised their price target on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Morgan Stanley boosted their price target on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Hold” and an average target price of $486.36.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $487.34, for a total value of $1,111,135.20. Following the sale, the chief marketing officer now owns 27,819 shares of the company’s stock, valued at approximately $13,557,311.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,767 shares of company stock valued at $15,768,284. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Profile

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.