Corient Private Wealth LP Purchases New Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Corient Private Wealth LP bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 112,098 shares of the pharmaceutical company’s stock, valued at approximately $55,682,000.

Several other large investors have also bought and sold shares of VRTX. Brighton Jones LLC boosted its holdings in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after buying an additional 579 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $228,000. NewEdge Advisors LLC raised its holdings in shares of Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after purchasing an additional 986 shares during the last quarter. ICW Investment Advisors LLC lifted its position in Vertex Pharmaceuticals by 5.0% during the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after buying an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after acquiring an additional 1,518 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on VRTX. Barclays lifted their price objective on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings cut Vertex Pharmaceuticals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Truist Financial upped their price target on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $563.50.

Vertex Pharmaceuticals Trading Up 0.0%

VRTX stock opened at $547.55 on Friday. The stock has a market capitalization of $138.97 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 2.38 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $374.17 and a 12 month high of $555.69. The firm has a 50-day moving average price of $500.28 and a 200-day moving average price of $468.15.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly 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 company had revenue of $3.33 billion for 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 company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $4.52 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the sale, the executive vice president directly owned 11,001 shares in the company, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their position. 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 10,464 shares of company stock worth $4,959,397 over the last quarter. 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.