Simplicity Wealth LLC Has $289,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Simplicity Wealth LLC boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 718 shares of the pharmaceutical company’s stock after buying an additional 79 shares during the quarter. Simplicity Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Capital Performance Advisors LLP acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth about $39,000. Equitable Trust Co. bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $244,000. SpiderRock Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 57.2% in the 3rd quarter. SpiderRock Advisors LLC now owns 2,898 shares of the pharmaceutical company’s stock worth $1,348,000 after acquiring an additional 1,055 shares in the last quarter. Essex Savings Bank raised its position in shares of Vertex Pharmaceuticals by 12.5% in the 3rd quarter. Essex Savings Bank now owns 677 shares of the pharmaceutical company’s stock worth $315,000 after acquiring an additional 75 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals by 16.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 2,850 shares of the pharmaceutical company’s stock worth $1,325,000 after acquiring an additional 405 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. The trade was a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,084 shares of company stock worth $505,512 in the last 90 days. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Oppenheimer lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Wells Fargo & Company lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research report on Thursday, January 30th. Barclays lifted their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $506.70.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $500.01 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a 50 day moving average price of $450.28 and a two-hundred day moving average price of $461.29. The firm has a market capitalization of $128.40 billion, a P/E ratio of -227.28, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.