Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Reduced by Private Advisor Group LLC

Private Advisor Group LLC lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 22.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,978 shares of the pharmaceutical company’s stock after selling 2,343 shares during the quarter. Private Advisor Group LLC’s holdings in Vertex Pharmaceuticals were worth $3,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth about $25,000. Arlington Trust Co LLC increased its stake in Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares in the last quarter. Annapolis Financial Services LLC purchased a new position in Vertex Pharmaceuticals in the 1st quarter worth about $27,000. ICA Group Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth about $28,000. Finally, Fortitude Family Office LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. BMO Capital Markets lifted their target price on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Piper Sandler lifted their target price on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price on the stock in a research note on Thursday, April 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

View Our Latest Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Stock Up 0.9 %

VRTX opened at $474.57 on Monday. Vertex Pharmaceuticals Incorporated has a twelve month low of $335.82 and a twelve month high of $486.42. The firm has a market cap of $122.46 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 2.46 and a beta of 0.39. The business has a 50 day moving average price of $452.07 and a 200 day moving average price of $429.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the company earned $2.67 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.08 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total value of $1,075,521.60. Following the sale, the chief marketing officer now owns 30,099 shares in the company, valued at $14,198,300.28. The disclosure for this sale can be found here. Insiders sold a total of 28,366 shares of company stock worth $13,058,787 over the last three months. 0.20% of the stock is currently owned by insiders.

About Vertex Pharmaceuticals

(Free Report)

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.

Further Reading

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

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