BNC Wealth Management LLC Acquires Shares of 13,356 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

BNC Wealth Management LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 13,356 shares of the pharmaceutical company’s stock, valued at approximately $6,212,000. Vertex Pharmaceuticals comprises 2.3% of BNC Wealth Management LLC’s holdings, making the stock its 10th largest holding.

Several other institutional investors also recently modified their holdings of VRTX. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter worth about $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the second quarter worth about $29,000. Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $31,000. Finally, Founders Capital Management increased its stake in shares of Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on VRTX shares. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research report on Tuesday. UBS Group lifted their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim increased their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $495.96.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $493.64 on Thursday. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The stock has a market cap of $127.41 billion, a price-to-earnings ratio of -248.06 and a beta of 0.39. The business has a 50-day simple moving average of $474.81 and a two-hundred day simple moving average of $466.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.88%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.67 earnings per share. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current year.

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.