Commonwealth Equity Services LLC Acquires 1,624 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Commonwealth Equity Services LLC increased its stake in Vertex Pharmaceuticals by 2.5%, owning a total of 65,744 shares valued at approximately $31.87 million.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding the consensus estimate of $4.24, and showcasing an 11.3% revenue growth year-over-year.
• Institutional investors own 90.96% of Vertex Pharmaceuticals stock, indicating significant market confidence in the company.

Commonwealth Equity Services LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,744 shares of the pharmaceutical company's stock after buying an additional 1,624 shares during the period. Commonwealth Equity Services LLC's holdings in Vertex Pharmaceuticals were worth $31,874,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $44,000. SJS Investment Consulting Inc. increased its holdings in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after buying an additional 30 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth about $46,000. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In related news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on VRTX. Truist Financial set a $490.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday. Canaccord Genuity Group reduced their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a report on Wednesday. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday. Guggenheim reduced their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $9.09 during midday trading on Friday, hitting $366.54. 3,679,339 shares of the stock traded hands, compared to its average volume of 1,989,627. The firm has a 50-day moving average of $450.77 and a two-hundred day moving average of $465.51. The firm has a market capitalization of $93.98 billion, a P/E ratio of 26.20 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a one year low of $364.66 and a one year high of $519.88.

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

About Vertex Pharmaceuticals

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.