Generali Asset Management SPA SGR Buys New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Generali Asset Management SPA SGR purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 22,861 shares of the pharmaceutical company’s stock, valued at approximately $9,206,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dunhill Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter worth about $33,000. Truvestments Capital LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $35,000. Institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at $13,256,000. This trade represents a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 244 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 1.8 %

Shares of Vertex Pharmaceuticals stock opened at $513.76 on Tuesday. The firm has a market capitalization of $131.93 billion, a PE ratio of -233.53, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The firm’s 50-day moving average price is $459.97 and its 200 day moving average price is $461.84. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on VRTX. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price target for the company from $408.00 to $424.00 in a research report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price target for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Barclays increased their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

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.