EP Wealth Advisors LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,027 shares of the pharmaceutical company's stock, valued at approximately $4,484,000.
Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth $26,000. Community Financial Services Group LLC bought a new stake in Vertex Pharmaceuticals in the second quarter valued at about $26,000. Elevation Wealth Partners LLC increased its holdings in Vertex Pharmaceuticals by 103.7% in 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 last quarter. Motiv8 Investments LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $26,000. Finally, Swiss RE Ltd. acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 90.96% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Weiss Ratings raised Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald boosted their price objective on shares of Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Royal Bank Of Canada upped their target price on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. Finally, TD Cowen increased their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. One 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $563.50.
View Our Latest Analysis on VRTX
Vertex Pharmaceuticals Price Performance
Shares of Vertex Pharmaceuticals stock opened at $548.05 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $374.17 and a 1 year high of $555.32. The business has a 50-day moving average of $492.65 and a two-hundred day moving average of $465.92. The company has a market capitalization of $139.10 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 2.27 and a beta of 0.30.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS 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 business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the business earned $4.52 EPS. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.
Insider Buying and Selling at Vertex Pharmaceuticals
In other news, EVP Duncan Mckechnie sold 1,541 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares in the company, valued at $5,709,519. This represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 on 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 directly owned 16,953 shares of the company's stock, valued at $7,628,850. This represents a 19.33% decrease in their position. 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 quarter, insiders have sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is currently owned by corporate insiders.
Vertex Pharmaceuticals Profile
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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.
Further Reading
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