OneDigital Investment Advisors LLC Makes New $836,000 Investment in Vertex Pharmaceuticals Incorporated $VRTX

OneDigital Investment Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,684 shares of the pharmaceutical company’s stock, valued at approximately $836,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Community Financial Services Group LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $26,000. Elevation Wealth Partners LLC lifted its stake in Vertex Pharmaceuticals by 103.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 28 shares in the last quarter. Motiv8 Investments LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at $26,000. Swiss RE Ltd. bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at $28,000. Finally, IMG Wealth Management Inc. grew its position in shares of Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada upped their target price on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. TD Cowen raised their price target on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Truist Financial lifted their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $563.50.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $528.19 on Wednesday. The company’s fifty day moving average price is $486.36 and its 200-day moving average price is $464.31. The firm has a market capitalization of $134.05 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.09 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a one year low of $374.17 and a one year high of $546.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the firm posted $4.52 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Duncan Mckechnie sold 1,541 shares of the 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 transaction, the executive vice president directly owned 11,001 shares in the company, valued at approximately $5,709,519. This represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were 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 in the company, valued at approximately $7,400,102.50. This represents a 3.74% decrease in their ownership of the stock. 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 have sold 10,464 shares of company stock worth $4,959,397 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

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.