LPL Financial LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 276,878 shares of the pharmaceutical company’s stock after acquiring an additional 12,696 shares during the period. LPL Financial LLC owned about 0.11% of Vertex Pharmaceuticals worth $125,525,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Colonial Trust Co SC grew its stake in Vertex Pharmaceuticals by 118.8% in 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 acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $29,000. IMG Wealth Management Inc. grew its stake in Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 50 shares during the period. Ares Financial Consulting LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $33,000. Finally, Archer Investment Corp grew its stake in Vertex Pharmaceuticals by 89.7% in the fourth quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock valued at $34,000 after acquiring an additional 35 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Price Performance
Shares of Vertex Pharmaceuticals stock opened at $435.71 on Thursday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The firm has a market cap of $110.58 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.91 and a beta of 0.30. The stock’s 50-day moving average is $437.22 and its 200-day moving average is $452.25.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target on the stock in a report on Wednesday, March 18th. Morgan Stanley boosted their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Citigroup boosted their price target on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Sanford C. Bernstein cut their price target on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $555.91.
Read Our Latest Stock Report on VRTX
Insider Buying and Selling
In related news, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 1,745 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $450.00, for a total value of $785,250.00. Following the sale, the chief marketing officer owned 21,015 shares in the company, valued at $9,456,750. The trade was a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 13,462 shares of company stock worth $6,095,195. Corporate insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Company 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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