Silvant Capital Management LLC Acquires Shares of 24,607 Vertex Pharmaceuticals (VRTX)

Silvant Capital Management LLC bought a new stake in Vertex Pharmaceuticals (NASDAQ:VRTX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,607 shares of the pharmaceutical company’s stock, valued at approximately $4,010,000.

Several other hedge funds have also bought and sold shares of VRTX. Massachusetts Financial Services Co. MA purchased a new position in shares of Vertex Pharmaceuticals in the first quarter valued at $247,701,000. Renaissance Technologies LLC boosted its stake in Vertex Pharmaceuticals by 108.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,847,917 shares of the pharmaceutical company’s stock worth $426,789,000 after buying an additional 1,479,897 shares during the period. HealthCor Management L.P. boosted its stake in Vertex Pharmaceuticals by 1,974.4% during the fourth quarter. HealthCor Management L.P. now owns 725,000 shares of the pharmaceutical company’s stock worth $108,649,000 after buying an additional 690,050 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Vertex Pharmaceuticals by 90.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,203,221 shares of the pharmaceutical company’s stock worth $180,315,000 after buying an additional 570,287 shares during the period. Finally, Two Sigma Investments LP boosted its stake in Vertex Pharmaceuticals by 102.7% during the fourth quarter. Two Sigma Investments LP now owns 912,724 shares of the pharmaceutical company’s stock worth $136,781,000 after buying an additional 462,416 shares during the period. 95.31% of the stock is owned by hedge funds and other institutional investors.

VRTX has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 21st. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $200.00 to $207.00 and gave the stock an “overweight” rating in a research note on Friday, April 27th. BidaskClub lowered shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. HC Wainwright reaffirmed a “hold” rating and set a $103.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 13th. Finally, Barclays lifted their target price on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company. Vertex Pharmaceuticals presently has an average rating of “Buy” and an average target price of $184.54.

VRTX stock opened at $156.34 on Friday. The company has a quick ratio of 3.53, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $39.79 billion, a P/E ratio of 195.43, a PEG ratio of 1.91 and a beta of 1.44. Vertex Pharmaceuticals has a 1-year low of $154.48 and a 1-year high of $155.93.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, April 26th. The pharmaceutical company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.13. The firm had revenue of $641.00 million during the quarter, compared to the consensus estimate of $626.05 million. Vertex Pharmaceuticals had a return on equity of 15.28% and a net margin of 9.36%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. sell-side analysts anticipate that Vertex Pharmaceuticals will post 1.95 EPS for the current fiscal year.

Vertex Pharmaceuticals declared that its Board of Directors has approved a share buyback program on Wednesday, January 31st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the pharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other Vertex Pharmaceuticals news, COO Ian F. Smith sold 85,093 shares of the business’s stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $158.32, for a total value of $13,471,923.76. Following the completion of the transaction, the chief operating officer now directly owns 68,745 shares in the company, valued at $10,883,708.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul M. Silva sold 201 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $155.78, for a total transaction of $31,311.78. Following the completion of the transaction, the senior vice president now owns 16,087 shares of the company’s stock, valued at $2,506,032.86. The disclosure for this sale can be found here. Insiders sold 172,907 shares of company stock valued at $27,820,874 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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