XTX Topco Ltd Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

XTX Topco Ltd acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 8,449 shares of the pharmaceutical company’s stock, valued at approximately $3,960,000. Vertex Pharmaceuticals accounts for 0.3% of XTX Topco Ltd’s holdings, making the stock its 20th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at $25,000. GHP Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Annapolis Financial Services LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth $27,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at $31,000. Finally, ICA Group Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $474.16 on Thursday. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64. The stock has a market capitalization of $122.38 billion, a P/E ratio of 30.77 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The company’s fifty day moving average is $483.42 and its two-hundred day moving average is $451.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results 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 firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.53 earnings per share. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VRTX shares. BMO Capital Markets upped their price objective on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Wells Fargo & Company increased their price target 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. Truist Financial restated a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Finally, Piper Sandler lifted their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $485.91.

Insider Transactions at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the transaction, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction, the chief marketing officer now directly owns 30,099 shares in the company, valued at $14,198,300.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated 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 $2,217,500. The disclosure for this sale can be found here. In the last three months, insiders sold 34,047 shares of company stock valued at $16,843,806. Corporate insiders own 0.20% of the company’s stock.

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.