Pure Financial Advisors LLC Invests $1.64 Million in Vertex Pharmaceuticals Incorporated $VRTX

Pure Financial Advisors LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,310 shares of the pharmaceutical company's stock, valued at approximately $1,644,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in shares of Vertex Pharmaceuticals by 414.1% in the fourth quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company's stock worth $6,363,000 after acquiring an additional 11,306 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 77.1% during the 1st quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company's stock valued at $34,779,000 after purchasing an additional 33,917 shares in the last quarter. Summit Global Investments acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $3,568,000. Sandro Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $1,436,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its holdings in shares of Vertex Pharmaceuticals by 11.9% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company's stock valued at $15,625,000 after buying an additional 3,710 shares during the period. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. UBS Group upped their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Sanford C. Bernstein raised Vertex Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, July 29th. Truist Financial boosted their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada upped their price objective on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $563.50.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was 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 of the company's stock, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the transaction, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. The trade was a 12.29% 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. Insiders sold a total of 10,464 shares of company stock worth $4,959,397 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Down 1.0%

Vertex Pharmaceuticals stock opened at $547.29 on Thursday. The company has a market cap of $138.90 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 2.40 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1-year low of $374.17 and a 1-year high of $555.69. The company has a fifty day simple moving average of $498.36 and a 200 day simple moving average of $467.66.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $3.23 billion. During the same period last year, the firm earned $4.52 earnings per share. The company's quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

About Vertex Pharmaceuticals

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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