D.B. Root & Company LLC raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 27.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,109 shares of the pharmaceutical company’s stock after buying an additional 242 shares during the quarter. D.B. Root & Company LLC’s holdings in Vertex Pharmaceuticals were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd lifted its stake in Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 45 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. SJS Investment Consulting Inc. lifted its stake in Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock valued at $46,000 after acquiring an additional 30 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Vertex Pharmaceuticals during the 1st quarter valued at approximately $46,000. Finally, Stone House Investment Management LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter valued at approximately $48,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Stock Up 0.8%
Vertex Pharmaceuticals stock opened at $397.46 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The firm has a market capitalization of $101.90 billion, a price-to-earnings ratio of 28.41 and a beta of 0.44. The company has a fifty day simple moving average of $440.20 and a 200-day simple moving average of $462.13.
Insider Activity
In other news, Director Bruce I. Sachs acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares of the company’s stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.
Wall Street Analyst Weigh In
VRTX has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a research note on Tuesday, August 5th. Scotiabank decreased their target price on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $497.10.
View Our Latest Analysis on VRTX
Vertex Pharmaceuticals Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.
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