Bronte Capital Management Pty Ltd. Acquires New Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bronte Capital Management Pty Ltd. purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,760 shares of the pharmaceutical company’s stock, valued at approximately $8,447,000. Vertex Pharmaceuticals comprises 0.8% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 20th biggest position.

Other large investors also recently added to or reduced their stakes in the company. Arlington Trust Co LLC grew its stake in shares of Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares during the period. Fortitude Family Office LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Baystate Wealth Management LLC grew its position in Vertex Pharmaceuticals by 49.0% in the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 25 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Vertex Pharmaceuticals during the third quarter worth about $25,000. Finally, NBC Securities Inc. acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $34,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price objective for the company in a research note on Thursday, April 11th. Canaccord Genuity Group lowered Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and increased their target price for the company from $332.00 to $379.00 in a report on Wednesday, January 24th. Wells Fargo & Company lifted their price target on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday. Finally, Piper Sandler raised their price objective on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $432.18.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 2,656 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $419.51, for a total transaction of $1,114,218.56. Following the completion of the sale, the chairman now directly owns 27,644 shares in the company, valued at approximately $11,596,934.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Ourania Tatsis sold 354 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Jeffrey M. Leiden sold 2,656 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $419.51, for a total transaction of $1,114,218.56. Following the transaction, the chairman now directly owns 27,644 shares of the company’s stock, valued at approximately $11,596,934.44. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock worth $5,203,249 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Up 0.0 %

Vertex Pharmaceuticals stock traded up $0.17 during mid-day trading on Thursday, hitting $418.99. The company’s stock had a trading volume of 676,155 shares, compared to its average volume of 1,228,628. The company has a market cap of $108.29 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 1.89 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $320.01 and a 52-week high of $448.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. The firm’s 50 day moving average is $407.86 and its 200 day moving average is $400.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.67 earnings per share. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current year.

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.