435 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Pines Wealth Management LLC

Pines Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, HoldingsChannel reports. The firm acquired 435 shares of the pharmaceutical company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors raised its stake in Vertex Pharmaceuticals by 5.7% during the fourth quarter. Capital World Investors now owns 28,325,695 shares of the pharmaceutical company’s stock worth $11,406,667,000 after acquiring an additional 1,514,993 shares during the period. Vanguard Group Inc. grew its position in Vertex Pharmaceuticals by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 23,258,288 shares of the pharmaceutical company’s stock worth $9,366,113,000 after purchasing an additional 98,654 shares during the last quarter. Capital Research Global Investors grew its position in Vertex Pharmaceuticals by 15.8% in the 4th quarter. Capital Research Global Investors now owns 10,428,951 shares of the pharmaceutical company’s stock worth $4,199,713,000 after purchasing an additional 1,426,746 shares during the last quarter. Wellington Management Group LLP grew its position in Vertex Pharmaceuticals by 23.3% in the 4th quarter. Wellington Management Group LLP now owns 5,916,084 shares of the pharmaceutical company’s stock worth $2,382,407,000 after purchasing an additional 1,117,214 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its position in Vertex Pharmaceuticals by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 3,772,789 shares of the pharmaceutical company’s stock worth $1,519,302,000 after purchasing an additional 704,575 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.5%

VRTX stock opened at $450.50 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The firm has a market cap of $115.69 billion, a PE ratio of -204.77, a P/E/G ratio of 2.11 and a beta of 0.41. The firm has a 50 day simple moving average of $465.01 and a 200 day simple moving average of $460.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the company earned $4.76 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on VRTX. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and upped their target price for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Erste Group Bank cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Scotiabank decreased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a report on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $515.04.

About Vertex Pharmaceuticals

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.