RiverPark Advisors LLC Invests $55,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

RiverPark Advisors LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 132 shares of the pharmaceutical company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Vertex Pharmaceuticals by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 22,282,180 shares of the pharmaceutical company’s stock worth $9,066,396,000 after buying an additional 298,824 shares during the period. Capital World Investors grew its position in Vertex Pharmaceuticals by 21.3% during the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after purchasing an additional 3,824,103 shares during the last quarter. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 21.2% during the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after purchasing an additional 837,461 shares during the last quarter. Capital Research Global Investors grew its position in Vertex Pharmaceuticals by 5.8% during the 4th quarter. Capital Research Global Investors now owns 3,567,664 shares of the pharmaceutical company’s stock valued at $1,451,647,000 after purchasing an additional 195,080 shares during the last quarter. Finally, Norges Bank purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at about $1,237,877,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

VRTX traded up $4.10 during trading on Tuesday, reaching $485.99. 753,852 shares of the company traded hands, compared to its average volume of 1,223,955. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. Vertex Pharmaceuticals Incorporated has a 12-month low of $339.02 and a 12-month high of $487.95. The firm has a fifty day simple moving average of $455.65 and a 200 day simple moving average of $430.30. The company has a market cap of $125.41 billion, a P/E ratio of 31.54, a PEG ratio of 2.46 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the firm posted $2.67 EPS. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.08 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Edward Morrow Atkinson III sold 7,288 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the completion of the transaction, the executive vice president now directly owns 15,972 shares of the company’s stock, valued at $7,634,616. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,366 shares of company stock valued at $13,058,787. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VRTX. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Guggenheim upped their target price on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada lowered their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 11th. Finally, Oppenheimer restated an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $448.61.

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.