Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) bought by Choreo LLC

Choreo LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 787.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,348 shares of the pharmaceutical company’s stock after acquiring an additional 3,858 shares during the period. Choreo LLC’s holdings in Vertex Pharmaceuticals were worth $2,048,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in VRTX. Capital World Investors boosted its holdings in shares of Vertex Pharmaceuticals by 17.2% in the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after buying an additional 3,761,414 shares during the last quarter. Vanguard Group Inc. raised its stake in Vertex Pharmaceuticals by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after buying an additional 394,338 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after buying an additional 2,176,218 shares during the period. Jennison Associates LLC raised its stake in shares of Vertex Pharmaceuticals by 21.2% in the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after purchasing an additional 837,461 shares in the last quarter. Finally, Norges Bank acquired a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $1,237,877,000. 90.96% of shares are held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

VRTX has been the subject of several analyst reports. Argus upped their target price on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Guggenheim boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Canaccord Genuity Group boosted their price objective on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Finally, Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $472.00 to $509.00 in a note research on Monday, August 5. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $485.91, based on data from MarketBeat.com.

Check out our latest research report on VRTX

Insider Trading at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now directly owns 30,099 shares in the company, valued at approximately $14,198,300.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The disclosure for this sale can be found here. Insiders sold a total of 34,047 shares of company stock worth $16,843,806 over the last quarter. Company insiders hold 0.20% of the company’s shares.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $470.78 on Wednesday. The company has a market cap of $121.49 billion, a P/E ratio of 30.55 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.85 and a twelve month high of $510.64. The company’s 50-day moving average price is $483.24 and its 200-day moving average price is $449.37. The company has a current ratio of 2.52, a quick ratio of 2.26, and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Your Free Report ) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. In the same period last year, the company earned $3.53 per share. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

(Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, is engaged in the development and commercialization of therapies for the treatment of cystic fibrosis (CF). Market TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for age 2 years or older; SYMDEKO/SYMKEVI for people with CF of 6 years or more; ORKAMBI for patients with CF of 1 year or more; and KALYDECO for the treatment of patients 1 year of age or older who have CF with ivacaftor.

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