15,717 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by Third View Private Wealth LLC

Key Points

• Third View Private Wealth LLC opened a new position in Vertex Pharmaceuticals, buying 15,717 shares worth about $7.13 million — roughly 1.0% of the firm's portfolio and its 23rd largest holding.
• Insider selling has been notable: executives sold 80,431 shares over the past 90 days (≈$37.9 million), including EVP Duncan McKechnie (4,910 shares at $487.65) and EVP Jonathan Biller (1,925 shares at $460.43).
• Analysts remain broadly positive on the stock, with a consensus rating of "Moderate Buy" and a consensus price target of $555, while several firms have recently raised targets (e.g., Cantor Fitzgerald $590, Scotiabank $558, Evercore $530).

Third View Private Wealth LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,717 shares of the pharmaceutical company's stock, valued at approximately $7,125,000. Vertex Pharmaceuticals accounts for about 1.0% of Third View Private Wealth LLC's portfolio, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fourpath Capital Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 6.6% during the 4th quarter. Fourpath Capital Management LLC now owns 1,768 shares of the pharmaceutical company's stock worth $802,000 after acquiring an additional 109 shares during the period. FSM Wealth Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $373,000. Stanley Laman Group Ltd. bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $220,000. Andrew Hill Investment Advisors Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 234.5% during the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 12,408 shares of the pharmaceutical company's stock worth $5,626,000 after acquiring an additional 8,699 shares during the period. Finally, Choreo LLC lifted its holdings in shares of Vertex Pharmaceuticals by 19.7% during the 4th quarter. Choreo LLC now owns 7,008 shares of the pharmaceutical company's stock worth $3,180,000 after acquiring an additional 1,154 shares during the period. 90.96% of the stock is owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 4,910 shares of the firm's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the transaction, the executive vice president owned 17,559 shares in the company, valued at approximately $8,562,646.35. This trade represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Biller sold 1,925 shares of the firm's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $886,327.75. Following the transaction, the executive vice president owned 20,819 shares in the company, valued at approximately $9,585,692.17. This trade represents a 8.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 80,431 shares of company stock valued at $37,875,167. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 0.9%

Vertex Pharmaceuticals stock opened at $440.05 on Tuesday. The business's 50-day simple moving average is $463.52 and its 200 day simple moving average is $446.78. The stock has a market cap of $111.93 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 1.87 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $510.77.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. Vertex Pharmaceuticals's revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.98 EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on VRTX. Evercore increased their price objective on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an "outperform" rating in a research note on Friday, January 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Scotiabank increased their price objective on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Truist Financial upgraded Vertex Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, March 25th. Finally, Leerink Partners increased their price objective on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an "outperform" rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $555.00.

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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