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Benjamin Edwards Inc. Boosts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Vertex Pharmaceuticals logo with Medical background

Key Points

  • Benjamin Edwards Inc. increased its holdings in Vertex Pharmaceuticals by 11.2% during the first quarter, owning 8,206 shares valued at approximately $3.98 million.
  • Insider transactions revealed that Director Bruce I. Sachs acquired 5,000 shares at $389.68 each, increasing his stake in the company by 12.50%.
  • Analysts have mixed views, with some lowering price targets, while Wells Fargo raised its rating from "equal weight" to "overweight," setting a new price objective of $460.00.
  • Need better tools to track Vertex Pharmaceuticals? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Benjamin Edwards Inc. lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 11.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,206 shares of the pharmaceutical company's stock after buying an additional 827 shares during the quarter. Benjamin Edwards Inc.'s holdings in Vertex Pharmaceuticals were worth $3,979,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $31,000. SJS Investment Consulting Inc. grew its stake in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter worth approximately $46,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Trading Up 2.1%

Shares of Vertex Pharmaceuticals stock traded up $8.15 during trading hours on Wednesday, reaching $395.92. 1,913,607 shares of the company's stock were exchanged, compared to its average volume of 2,284,947. The firm has a market capitalization of $101.51 billion, a price-to-earnings ratio of 28.30 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The company has a fifty day moving average of $448.18 and a 200-day moving average of $464.96.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.28. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($12.83) earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRTX shares. Cantor Fitzgerald lowered their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. The Goldman Sachs Group restated a "buy" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Canaccord Genuity Group dropped their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research note on Wednesday, August 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $497.10.

Get Our Latest Analysis on VRTX

Insider Activity

In related news, Director Bruce I. Sachs purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Company Profile

(Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

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