Strategic Advisors LLC Grows Position in Vertex Pharmaceuticals Incorporated $VRTX

Strategic Advisors LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 93.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,854 shares of the pharmaceutical company’s stock after buying an additional 4,272 shares during the period. Strategic Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $3,468,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Chesapeake Asset Management LLC grew 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 purchasing an additional 33 shares in the last quarter. Access Investment Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth approximately $29,000. Total Investment Management Inc. acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at $33,000. Finally, Financial Network Wealth Advisors LLC boosted its stake in Vertex Pharmaceuticals by 50.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $564.00 price objective on Vertex Pharmaceuticals in a report on Friday, December 5th. Sanford C. Bernstein upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, January 12th. Royal Bank Of Canada raised Vertex Pharmaceuticals from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $455.00 to $546.00 in a research report on Thursday, January 22nd. Finally, Scotiabank initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $522.68.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 63,781 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,792,479.20. This trade represents a 72.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total value of $6,384,000.00. Following the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This represents a 27.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 165,105 shares of company stock worth $73,858,523. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $477.91 on Thursday. The firm has a market capitalization of $121.26 billion, a P/E ratio of 33.70 and a beta of 0.31. The business has a 50 day simple moving average of $451.84 and a 200 day simple moving average of $427.22. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $4.38 earnings per share. Research analysts anticipate 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.