Proficio Capital Partners LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,184 shares of the pharmaceutical company’s stock, valued at approximately $1,085,000.
A number of other hedge funds have also made changes to their positions in VRTX. Brighton Jones LLC raised its position in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after acquiring an additional 579 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $228,000. NewEdge Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 9.0% during the 2nd quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after purchasing an additional 986 shares during the last quarter. ICW Investment Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 5.0% during the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after purchasing an additional 29 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in Vertex Pharmaceuticals by 26.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after buying an additional 1,518 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.
Insider Transactions at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the sale, the chief marketing officer owned 15,337 shares of the company’s stock, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the sale, the executive vice president owned 45,321 shares of the company’s stock, valued at $23,793,071.79. This represents a 3.20% 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 10,464 shares of company stock worth $4,959,397 in the last ninety days. Insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Price Performance
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the firm posted $4.52 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on VRTX shares. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Truist Financial raised their price target on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 4th. Finally, UBS Group raised their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $563.50.
Get Our Latest Analysis on VRTX
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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