2,792 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,792 shares of the pharmaceutical company’s stock, valued at approximately $1,387,000.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its holdings in 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 lifted its holdings in Vertex Pharmaceuticals by 77.1% in the 1st quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock worth $34,779,000 after purchasing an additional 33,917 shares during the last quarter. Sandro Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $1,436,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its holdings in shares of Vertex Pharmaceuticals by 11.9% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company’s stock worth $15,625,000 after buying an additional 3,710 shares during the period. Finally, Meiji Yasuda America Inc acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at $1,911,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $505.75 on Monday. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $546.17. The company has a market cap of $128.36 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 2.09 and a beta of 0.30. The stock’s fifty day moving average price is $483.26 and its two-hundred day moving average price is $463.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $4.52 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on VRTX shares. Royal Bank Of Canada increased their target price on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Canaccord Genuity Group boosted their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Barclays lifted their price target on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $563.50.

Insider Activity

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the sale, the chief marketing officer owned 15,337 shares in the company, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,709,519. This represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 10,464 shares of company stock worth $4,959,397 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals 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.