Vertex Pharmaceuticals Incorporated $VRTX Stake Decreased by Focus Partners Wealth

Focus Partners Wealth cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,215 shares of the pharmaceutical company’s stock after selling 3,894 shares during the period. Focus Partners Wealth’s holdings in Vertex Pharmaceuticals were worth $54,522,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Chesapeake Asset Management LLC raised its stake in Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of Vertex Pharmaceuticals by 118.8% in the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Total Investment Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $33,000. Financial Network Wealth Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals by 50.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after purchasing an additional 29 shares during the period. Finally, Y.D. More Investments Ltd raised its stake in shares of Vertex Pharmaceuticals by 345.0% during the third quarter. Y.D. More Investments Ltd now owns 89 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Jonathan Biller sold 945 shares of the company’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 $459,600.75. Following the transaction, the executive vice president owned 13,659 shares of the company’s stock, valued at approximately $6,643,054.65. This represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Duncan Mckechnie sold 4,910 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the sale, the executive vice president owned 17,559 shares of the company’s stock, valued at $8,562,646.35. This trade represents a 21.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 91,156 shares of company stock valued at $42,845,497. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Wolfe Research upgraded shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target on the stock in a research report on Tuesday, January 6th. Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $570.00 to $596.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Truist Financial increased their price objective on shares of Vertex Pharmaceuticals from $490.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Finally, Jefferies Financial Group began coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They set a “buy” rating and a $580.00 price objective on the stock. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $553.36.

Vertex Pharmaceuticals Trading Down 0.7%

Shares of Vertex Pharmaceuticals stock opened at $466.10 on Tuesday. The company’s 50-day moving average price is $470.37 and its two-hundred day moving average price is $438.98. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $517.20. The stock has a market cap of $118.40 billion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 2.00 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing the consensus estimate of $5.05 by ($0.02). The business had revenue of $3.19 billion for 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 business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $3.98 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.