NBW Capital LLC Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• NBW Capital LLC reduced its stake in Vertex Pharmaceuticals by 22.7% in the first quarter, selling 4,592 shares, bringing its total to 15,646 shares valued at $7,585,000.
• Multiple brokerages have given Vertex Pharmaceuticals varying target prices, with UBS Group setting a price target of $553.00, indicating a strong buy, while Canaccord Genuity lowered its target to $411.00 with a hold rating.
• In recent insider trading, Director Bruce I. Sachs purchased 5,000 shares for approximately $1.95 million, increasing his ownership in the company significantly.

NBW Capital LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 22.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,646 shares of the pharmaceutical company's stock after selling 4,592 shares during the quarter. Vertex Pharmaceuticals accounts for approximately 1.7% of NBW Capital LLC's portfolio, making the stock its 15th largest holding. NBW Capital LLC's holdings in Vertex Pharmaceuticals were worth $7,585,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. Brighton Jones LLC raised its holdings in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after acquiring an additional 579 shares in the last quarter. FIL Ltd increased its position in Vertex Pharmaceuticals by 1,226.6% during the 4th quarter. FIL Ltd now owns 93,273 shares of the pharmaceutical company's stock valued at $37,561,000 after purchasing an additional 86,242 shares during the period. DRW Securities LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth $479,000. Legacy Financial Advisors Inc. lifted its position in shares of Vertex Pharmaceuticals by 4.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 2,552 shares of the pharmaceutical company's stock worth $1,028,000 after purchasing an additional 104 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Vertex Pharmaceuticals by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 116,793 shares of the pharmaceutical company's stock valued at $47,033,000 after purchasing an additional 520 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Down 2.4%

NASDAQ:VRTX traded down $9.09 during mid-day trading on Friday, reaching $366.54. The company's stock had a trading volume of 3,679,339 shares, compared to its average volume of 1,989,627. Vertex Pharmaceuticals Incorporated has a 12-month low of $364.66 and a 12-month high of $519.88. The firm's fifty day moving average price is $450.77 and its two-hundred day moving average price is $465.77. The stock has a market cap of $93.98 billion, a P/E ratio of 26.20 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share 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 analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($12.83) EPS. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Leerink Partners reiterated a "market perform" rating and set a $503.00 price target (down previously from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Royal Bank Of Canada cut their price objective on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Finally, Guggenheim cut their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research report on Wednesday. Thirteen 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Insiders Place Their Bets

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

Vertex Pharmaceuticals Profile

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.