Independent Advisor Alliance Takes $497,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Independent Advisor Alliance bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,906 shares of the pharmaceutical company’s stock, valued at approximately $497,000.

A number of other large investors have also modified their holdings of VRTX. BlackRock Inc. boosted its holdings in Vertex Pharmaceuticals by 1.7% in the fourth quarter. BlackRock Inc. now owns 23,944,931 shares of the pharmaceutical company’s stock valued at $5,258,308,000 after purchasing an additional 397,036 shares during the last quarter. State Street Corp boosted its holdings in Vertex Pharmaceuticals by 0.3% in the fourth quarter. State Street Corp now owns 12,356,915 shares of the pharmaceutical company’s stock valued at $2,713,579,000 after purchasing an additional 33,499 shares during the last quarter. Capital World Investors boosted its holdings in Vertex Pharmaceuticals by 4.3% in the fourth quarter. Capital World Investors now owns 11,520,855 shares of the pharmaceutical company’s stock valued at $2,530,003,000 after purchasing an additional 478,553 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Vertex Pharmaceuticals by 15.2% in the fourth quarter. Alliancebernstein L.P. now owns 10,443,771 shares of the pharmaceutical company’s stock valued at $2,293,452,000 after purchasing an additional 1,374,923 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Vertex Pharmaceuticals by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,356,220 shares of the pharmaceutical company’s stock valued at $954,276,000 after purchasing an additional 53,868 shares during the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

Analyst Ratings Changes

VRTX has been the subject of a number of analyst reports. Cowen increased their price target on Vertex Pharmaceuticals from $305.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, June 13th. Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a report on Wednesday, June 1st. Robert W. Baird downgraded Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $250.00 target price on the stock. in a report on Friday, May 6th. HC Wainwright increased their target price on Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wells Fargo & Company increased their target price on Vertex Pharmaceuticals from $300.00 to $305.00 in a report on Friday, May 6th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $289.90.

Vertex Pharmaceuticals Stock Up 4.8 %

VRTX opened at $288.03 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $176.36 and a 12 month high of $296.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.75 and a quick ratio of 4.60. The stock has a market cap of $73.67 billion, a P/E ratio of 30.32, a P/E/G ratio of 2.03 and a beta of 0.45. The stock’s 50 day moving average price is $277.50 and its 200 day moving average price is $260.63.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last posted its earnings results on Thursday, August 4th. The pharmaceutical company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.12 by $0.48. Vertex Pharmaceuticals had a return on equity of 32.24% and a net margin of 30.84%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $2.80 EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 12.41 earnings per share for the current year.

Insider Activity

In other news, CEO Reshma Kewalramani sold 11,689 shares of Vertex Pharmaceuticals stock in a transaction on Friday, June 24th. The stock was sold at an average price of $291.30, for a total transaction of $3,405,005.70. Following the transaction, the chief executive officer now directly owns 111,153 shares in the company, valued at approximately $32,378,868.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Reshma Kewalramani sold 11,689 shares of Vertex Pharmaceuticals stock in a transaction on Friday, June 24th. The stock was sold at an average price of $291.30, for a total transaction of $3,405,005.70. Following the transaction, the chief executive officer now directly owns 111,153 shares in the company, valued at approximately $32,378,868.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Altshuler sold 17,865 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $288.65, for a total value of $5,156,732.25. Following the transaction, the executive vice president now owns 36,077 shares in the company, valued at $10,413,626.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,254 shares of company stock worth $45,899,243. 0.40% of the stock is owned by company insiders.

Vertex Pharmaceuticals Profile

(Get Rating)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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