Churchill Financial Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,250 shares of the pharmaceutical company’s stock, valued at approximately $567,000.
A number of other institutional investors and hedge funds have also bought and sold shares of VRTX. Colonial Trust Co SC raised its holdings in Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $29,000. IMG Wealth Management Inc. increased its holdings in shares of Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Ares Financial Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $33,000. Finally, Archer Investment Corp increased its holdings in shares of Vertex Pharmaceuticals by 89.7% in the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 35 shares during the last quarter. 90.96% of the stock is owned by institutional investors.
Vertex Pharmaceuticals Price Performance
Shares of NASDAQ VRTX opened at $434.52 on Monday. The business’s 50 day moving average is $441.55 and its two-hundred day moving average is $451.02. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92. The stock has a market capitalization of $110.28 billion, a P/E ratio of 25.77, a PEG ratio of 1.86 and a beta of 0.30.
Insider Activity at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, CAO Kristen Ambrose sold 223 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $108,456.05. Following the sale, the chief accounting officer directly owned 6,981 shares of the company’s stock, valued at $3,395,209.35. The trade was a 3.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joy Liu sold 1,104 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the sale, the executive vice president directly owned 20,729 shares in the company, valued at $8,810,239.58. The trade was a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,189 shares of company stock valued at $9,923,036 over the last ninety days. 0.20% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on VRTX shares. Royal Bank Of Canada lifted their target price on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Canaccord Genuity Group reduced their target price on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a report on Tuesday, May 5th. Morgan Stanley lifted their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Sanford C. Bernstein reduced their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Finally, Weiss Ratings raised Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $555.17.
View Our Latest Analysis on Vertex Pharmaceuticals
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.
Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.
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