Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Nwam LLC

Key Points

• Nwam LLC increased its Vertex Pharmaceuticals stake by 60% in the second quarter, bringing its holdings to 10,129 shares worth approximately $5.03 million. Institutional investors collectively own 90.96% of VRTX.
• Analysts remain broadly positive, with one Strong Buy, 20 Buy, and three Hold ratings. The consensus rating is “Moderate Buy,” with an average price target of $563.50.
• Vertex reported quarterly revenue of $3.33 billion, exceeding estimates and rising 12.5% year over year, though adjusted EPS of $4.73 narrowly missed expectations. Shares recently opened at $544.52, near their 52-week high of $555.69.

Nwam LLC lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 60.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,129 shares of the pharmaceutical company's stock after buying an additional 3,797 shares during the period. Nwam LLC's holdings in Vertex Pharmaceuticals were worth $5,031,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of VRTX. Bangor Savings Bank lifted its holdings in Vertex Pharmaceuticals by 0.4% in the second quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company's stock valued at $2,220,000 after acquiring an additional 20 shares during the period. Trust Point Inc. grew its stake in shares of Vertex Pharmaceuticals by 2.7% during the 2nd quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company's stock worth $394,000 after purchasing an additional 21 shares during the period. Williams Jones Wealth Management LLC. grew its stake in shares of Vertex Pharmaceuticals by 1.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company's stock worth $524,000 after purchasing an additional 21 shares during the period. Cannell & Spears LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.2% in the 1st quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company's stock valued at $885,000 after purchasing an additional 23 shares in the last quarter. Finally, Glenview Trust Co increased its holdings in shares of Vertex Pharmaceuticals by 0.3% in the 4th quarter. Glenview Trust Co now owns 7,005 shares of the pharmaceutical company's stock valued at $3,176,000 after purchasing an additional 24 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on VRTX. UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, July 29th. Cantor Fitzgerald boosted their price target on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Finally, Weiss Ratings downgraded Vertex Pharmaceuticals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $563.50.

Insider Activity

In related news, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the sale, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the transaction, the executive vice president directly owned 45,321 shares of the company's stock, valued at $23,793,071.79. The trade was a 3.20% 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. Insiders have sold 10,464 shares of company stock worth $4,959,397 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $544.52 on Tuesday. The firm has a 50 day simple moving average of $503.63 and a 200-day simple moving average of $469.22. Vertex Pharmaceuticals Incorporated has a 1-year low of $374.17 and a 1-year high of $555.69. The stock has a market cap of $138.20 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 2.35 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its 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). The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. Vertex Pharmaceuticals's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.52 EPS. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal 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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