868 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Founders Financial Alliance LLC

Key Points

• Founders Financial Alliance LLC acquired 868 shares of Vertex Pharmaceuticals for approximately $421,000, showcasing growing institutional interest in the company.
• Wall Street analysts have mixed ratings on Vertex, with UBS Group setting a target price of $553.00 and Wells Fargo upgrading to an "overweight" rating and a target of $460.00.
• Vertex Pharmaceuticals reported higher-than-expected quarterly earnings of $4.52 EPS, exceeding analysts' consensus estimates and achieving a revenue of $2.94 billion.

Founders Financial Alliance LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 868 shares of the pharmaceutical company's stock, valued at approximately $421,000.

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

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded up $5.63 during trading hours on Wednesday, reaching $393.40. 997,126 shares of the company traded hands, compared to its average volume of 1,645,726. The firm's 50-day moving average is $448.18 and its 200-day moving average is $464.96. The stock has a market cap of $100.86 billion, a P/E ratio of 28.09 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion during 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 business's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($12.83) earnings per share. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Saturday. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Canaccord Genuity Group decreased their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Leerink Partners reaffirmed a "market perform" rating and set a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald decreased their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $497.10.

Insider Activity

In related news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.

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.