Wealth Enhancement Advisory Services LLC Buys 7,777 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Vertex Pharmaceuticals by 10.6% in Q4, buying 7,777 shares to hold 81,246 shares valued at about $38.08 million.
• Company insiders sold a total of 93,485 shares worth roughly $43.97 million over the last quarter (including two EVP sales on Feb. 25), while insiders still own just 0.20% of the stock.
• Analysts are broadly positive: the stock has a consensus rating of "Moderate Buy" (24 Buys, 5 Holds) with an average target price of $554.30, above the recent trading level around $451.23.

Wealth Enhancement Advisory Services LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 10.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,246 shares of the pharmaceutical company's stock after buying an additional 7,777 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Vertex Pharmaceuticals were worth $38,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Vertex Pharmaceuticals by 3.8% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company's stock valued at $213,435,000 after buying an additional 20,053 shares during the last quarter. Leuthold Group LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $5,030,000. Danske Bank A S purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at $64,417,000. Advisory Resource Group bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $1,286,000. Finally, Generali Asset Management SPA SGR grew its position in Vertex Pharmaceuticals by 41.8% in the 3rd quarter. Generali Asset Management SPA SGR now owns 23,569 shares of the pharmaceutical company's stock valued at $9,231,000 after acquiring an additional 6,942 shares during the last quarter. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In other news, EVP Mark E. Bunnage sold 620 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $301,537.00. Following the completion of the sale, the executive vice president owned 7,284 shares of the company's stock, valued at $3,542,573.40. This trade represents a 7.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 260 shares of the company's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $126,451.00. Following the transaction, the executive vice president directly owned 46,763 shares in the company, valued at $22,743,185.05. This represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 93,485 shares of company stock valued at $43,967,586 over the last quarter. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $451.23 on Tuesday. The company has a market capitalization of $114.63 billion, a PE ratio of 29.43, a P/E/G ratio of 1.94 and a beta of 0.31. The company has a 50-day simple moving average of $468.98 and a two-hundred day simple moving average of $441.10. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $513.97.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts' consensus estimates of $5.05 by ($0.02). The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 earnings per share. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several research analyst reports. Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 target price for the company in a research report on Wednesday, March 18th. Evercore raised their price target on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an "outperform" rating in a research note on Friday, January 23rd. Barclays boosted their price objective on shares of Vertex Pharmaceuticals from $606.00 to $607.00 and gave the company an "overweight" rating in a research report on Tuesday, February 17th. Scotiabank upped their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Finally, Jefferies Financial Group started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They set a "buy" rating and a $580.00 target price on the stock. Twenty-four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $554.30.

Vertex Pharmaceuticals Company Profile

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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