Centaurus Financial Inc. purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,749 shares of the pharmaceutical company's stock, valued at approximately $1,366,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at about $26,000. Community Financial Services Group LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at $26,000. Elevation Wealth Partners LLC raised its stake in shares of Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 28 shares during the period. Motiv8 Investments LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $26,000. Finally, Swiss RE Ltd. purchased a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 90.96% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on VRTX. Canaccord Genuity Group lifted their price objective on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a "hold" rating in a report on Tuesday, August 4th. Barclays raised their price target on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Truist Financial lifted their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, TD Cowen boosted their price objective on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. One equities research 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $563.50.
Read Our Latest Stock Analysis on VRTX
Insider Activity
In other news, CMO Carmen Bozic sold 596 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the transaction, the chief marketing officer directly owned 15,337 shares in the company, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the sale, the executive vice president owned 45,321 shares in the company, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 10,464 shares of company stock valued at $4,959,397. Insiders own 0.20% of the company's stock.
Vertex Pharmaceuticals Trading Up 0.0%
Shares of NASDAQ VRTX opened at $547.55 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $374.17 and a 12-month high of $555.69. The company has a market cap of $138.97 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.30. The stock's 50 day simple moving average is $500.28 and its 200 day simple moving average is $468.15.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.Vertex Pharmaceuticals's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.52 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.
Vertex Pharmaceuticals Profile
(
Free Report)
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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