Plato Investment Management Ltd Has $3.12 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Plato Investment Management Ltd raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,645 shares of the pharmaceutical company’s stock after purchasing an additional 505 shares during the period. Plato Investment Management Ltd’s holdings in Vertex Pharmaceuticals were worth $3,115,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of VRTX. Capital World Investors raised its position in shares of Vertex Pharmaceuticals by 21.3% in the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock worth $8,872,586,000 after acquiring an additional 3,824,103 shares in the last quarter. Norges Bank acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $1,237,877,000. Capital Research Global Investors increased its holdings in 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 worth $2,401,000,000 after purchasing an additional 2,176,218 shares in the last quarter. Jennison Associates LLC lifted its stake in Vertex Pharmaceuticals by 21.2% in the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after buying an additional 837,461 shares during the period. Finally, Swedbank AB bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $277,317,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $485.37 on Friday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The firm has a market cap of $125.27 billion, a PE ratio of 31.50 and a beta of 0.40. The business has a 50 day moving average of $483.72 and a 200-day moving average of $450.25. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.85 and a 12-month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) 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 the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.53 EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,047 shares of company stock valued at $16,843,806. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VRTX. Wells Fargo & Company lifted their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Piper Sandler increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada reduced their target price on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Finally, Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $485.91.

Vertex Pharmaceuticals Company 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.