4,828 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC established a new position in Vertex Pharmaceuticals by buying 4,828 shares in Q4, valued at approximately $2.19 million per the firm's 13F filing.
• Insiders have been active sellers — two EVPs sold 620 and 4,910 shares on Feb. 25 at about $486–$488 each, and insiders sold a total of 80,431 shares worth roughly $37.9 million in the last 90 days, leaving insiders with 0.20% ownership.
• Analysts have pushed up targets and maintain a consensus "Moderate Buy" rating on VRTX with a consensus price target of $555 (individual targets range as high as $612).

Fiduciary Alliance LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,828 shares of the pharmaceutical company's stock, valued at approximately $2,189,000.

Other hedge funds also recently modified their holdings of the company. Chesapeake Asset Management LLC increased its position in shares of Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company's stock worth $25,000 after purchasing an additional 33 shares during the period. Colonial Trust Co SC boosted 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 buying an additional 38 shares in the last quarter. Total Investment Management Inc. acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at about $33,000. Financial Network Wealth Advisors LLC boosted its stake in Vertex Pharmaceuticals by 50.9% in the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company's stock valued at $34,000 after buying an additional 29 shares in the last quarter. Finally, Y.D. More Investments Ltd boosted its stake in Vertex Pharmaceuticals by 345.0% in the third quarter. Y.D. More Investments Ltd now owns 89 shares of the pharmaceutical company's stock valued at $35,000 after buying an additional 69 shares in the last quarter. Institutional investors own 90.96% of the company's stock.

Insider Activity

In other news, EVP Mark E. Bunnage sold 620 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $301,537.00. Following the sale, the executive vice president directly owned 7,284 shares of the company's stock, valued at approximately $3,542,573.40. This trade represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Duncan Mckechnie sold 4,910 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the sale, the executive vice president directly owned 17,559 shares in the company, valued at $8,562,646.35. The trade was a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 80,431 shares of company stock valued at $37,875,167. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Canaccord Genuity Group raised their price objective on Vertex Pharmaceuticals from $411.00 to $441.00 and gave the company a "hold" rating in a research note on Tuesday, February 17th. Citigroup raised their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a "buy" rating in a research note on Tuesday, March 10th. Evercore raised their price objective on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an "outperform" rating in a research note on Friday, January 23rd. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $596.00 to $612.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Wolfe Research raised Vertex Pharmaceuticals from a "peer perform" rating to an "outperform" rating and set a $548.00 price objective on the stock in a research note on Tuesday, January 6th. One equities research 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, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $555.00.

Vertex Pharmaceuticals Trading Down 2.4%

Shares of VRTX stock opened at $436.27 on Friday. The business's 50-day moving average price is $464.16 and its 200-day moving average price is $445.42. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $510.77. The firm has a market capitalization of $110.97 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.91 and a beta of 0.36.

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

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.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.