Western Wealth Management LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 159.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,631 shares of the pharmaceutical company’s stock after buying an additional 1,003 shares during the quarter. Western Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $728,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares during the period. Gamco Investors INC. ET AL acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $228,000. NewEdge Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after buying an additional 986 shares during the last quarter. ICW Investment Advisors LLC grew its holdings in Vertex Pharmaceuticals by 5.0% during the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after acquiring an additional 29 shares during the period. Finally, Diversify Advisory Services LLC grew its holdings in Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after acquiring an additional 1,518 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.
Analyst Ratings Changes
VRTX has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their price target on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. TD Cowen upped their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Sanford C. Bernstein upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus set a $500.00 price target on Vertex Pharmaceuticals in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $563.50.
Insider Buying and Selling
In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president owned 45,321 shares in the company, valued at $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the sale, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. This trade represents a 12.29% 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. In the last quarter, insiders sold 10,464 shares of company stock valued at $4,959,397. Company insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Stock Down 1.8%
Shares of VRTX opened at $516.44 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $546.17. The stock has a market cap of $131.07 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 2.18 and a beta of 0.30. The firm’s fifty day moving average is $482.08 and its two-hundred day moving average is $463.46.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.52 EPS. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.
About Vertex Pharmaceuticals
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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