Allworth Financial LP Invests $2.23 Million in Vertex Pharmaceuticals Incorporated $VRTX

Allworth Financial LP acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,487 shares of the pharmaceutical company's stock, valued at approximately $2,229,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $11,975,849,000. Norges Bank purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $1,440,149,000. AIGH Capital Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $26,725,000. Bank of New York Mellon Corp purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $830,842,000. Finally, Deutsche Bank AG purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter worth about $784,391,000. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 1,500 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the transaction, the executive vice president directly owned 45,321 shares of the company's stock, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. The sale 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 4,062 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the sale, the chief marketing officer owned 16,953 shares of the company's stock, valued at approximately $7,628,850. This represents a 19.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 10,464 shares of company stock worth $4,959,397. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Up 1.4%

Vertex Pharmaceuticals stock opened at $548.05 on Friday. The firm has a fifty day simple moving average of $492.65 and a two-hundred day simple moving average of $465.92. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $555.32. The company has a market capitalization of $139.10 billion, a PE ratio of 31.90, a P/E/G ratio of 2.24 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the business posted $4.52 earnings per share. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, July 29th. Canaccord Genuity Group upped their target price on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a "hold" rating in a report on Tuesday, August 4th. Finally, Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. One 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 company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $563.50.

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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