Vertex Pharmaceuticals Incorporated $VRTX Stock Holdings Lifted by NewEdge Wealth LLC

NewEdge Wealth LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,788 shares of the pharmaceutical company’s stock after acquiring an additional 1,386 shares during the quarter. NewEdge Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $4,371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP grew its holdings in shares of Vertex Pharmaceuticals by 414.1% during the fourth quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company’s stock valued at $6,363,000 after buying an additional 11,306 shares in the last quarter. Calamos Advisors LLC increased its holdings in Vertex Pharmaceuticals by 77.1% in the first quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock worth $34,779,000 after buying an additional 33,917 shares during the last quarter. Sandro Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,436,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in 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 acquiring an additional 3,710 shares during the last quarter. Finally, LBP AM SA lifted its stake in Vertex Pharmaceuticals by 51.8% in the fourth quarter. LBP AM SA now owns 67,197 shares of the pharmaceutical company’s stock valued at $30,464,000 after acquiring an additional 22,918 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sangeeta N. Bhatia sold 318 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the transaction, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the transaction, the chief marketing officer directly owned 15,337 shares of the company’s stock, valued at $7,400,102.50. This represents a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,874 shares of company stock valued at $8,707,966 in the last quarter. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.9%

NASDAQ VRTX opened at $477.36 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $533.67. The company has a fifty day simple moving average of $465.77 and a 200 day simple moving average of $459.80. The company has a market cap of $121.16 billion, a P/E ratio of 28.31, a P/E/G ratio of 2.13 and a beta of 0.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.06 EPS. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VRTX shares. Truist Financial increased their price target on shares of Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. UBS Group lifted their price objective on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Royal Bank Of Canada upped their price objective on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Barclays increased their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Twenty-two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $559.61.

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.