22,861 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Acquired by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,861 shares of the pharmaceutical company’s stock, valued at approximately $9,206,000.

Other hedge funds have also recently made changes to their positions in the company. Dunhill Financial LLC increased its position in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 24 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $33,000. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $30,000. Truvestments Capital LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $513.76 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm’s 50 day moving average is $459.97 and its 200-day moving average is $461.84. The firm has a market capitalization of $131.93 billion, a price-to-earnings ratio of -233.53, a PEG ratio of 2.11 and a beta of 0.41. 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 announced its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate 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%. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 530 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the transaction, the executive vice president now directly owns 58,539 shares in the company, valued at approximately $27,825,928.26. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock worth $2,121,012 over the last quarter. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank lifted their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. StockNews.com raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. BMO Capital Markets set a $545.00 price target on Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price objective for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

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.