AssuredPartners Investment Advisors LLC Invests $2.06 Million in Vertex Pharmaceuticals Incorporated $VRTX

AssuredPartners Investment Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,147 shares of the pharmaceutical company's stock, valued at approximately $2,060,000.

Several other institutional investors have also added to or reduced their stakes in VRTX. Community Financial Services Group LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $26,000. Motiv8 Investments LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its position in Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 28 shares during the period. Finally, Swiss RE Ltd. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $28,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VRTX has been the subject of several recent research reports. UBS Group upped their price target on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Stifel Nicolaus set a $500.00 price objective on Vertex Pharmaceuticals in a report on Tuesday, August 4th. Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a "hold" rating in a research report on Tuesday, August 4th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $563.50.

Insider Activity

In other news, EVP Ourania Tatsis sold 1,500 shares of the business'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 sale, the executive vice president directly owned 45,321 shares of the company's stock, 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $450.00, for a total value of $1,827,900.00. Following the sale, the chief marketing officer directly owned 16,953 shares of the company's stock, valued at $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. Insiders sold 10,464 shares of company stock worth $4,959,397 over the last three months. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $552.06 on Thursday. The stock has a market capitalization of $140.11 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.19 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52 week low of $374.17 and a 52 week high of $553.69. The stock has a 50 day moving average price of $488.69 and a two-hundred day moving average price of $464.85.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the company earned $4.52 earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 12.5% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

Vertex Pharmaceuticals 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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