Boomfish Wealth Group LLC Boosts Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Boomfish Wealth Group LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,647 shares of the pharmaceutical company’s stock after purchasing an additional 1,404 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Vertex Pharmaceuticals were worth $2,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. McAdam LLC increased its position in Vertex Pharmaceuticals by 23.3% during the 3rd quarter. McAdam LLC now owns 740 shares of the pharmaceutical company’s stock valued at $290,000 after buying an additional 140 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 42.9% during the third quarter. Sage Mountain Advisors LLC now owns 2,008 shares of the pharmaceutical company’s stock worth $786,000 after acquiring an additional 603 shares during the last quarter. Americana Partners LLC increased its holdings in shares of Vertex Pharmaceuticals by 98.4% during the third quarter. Americana Partners LLC now owns 24,468 shares of the pharmaceutical company’s stock valued at $9,583,000 after acquiring an additional 12,134 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $87,000. Finally, GKV Capital Management Co. Inc. boosted its stake in Vertex Pharmaceuticals by 4.4% in the 3rd quarter. GKV Capital Management Co. Inc. now owns 4,205 shares of the pharmaceutical company’s stock worth $1,647,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VRTX shares. Morgan Stanley set a $564.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, December 5th. Citigroup upped their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Sanford C. Bernstein upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 12th. Finally, UBS Group assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, January 6th. They issued a “buy” rating and a $535.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $503.80.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $442.08 on Wednesday. The business’s 50-day moving average is $447.25 and its two-hundred day moving average is $426.90. The company has a market capitalization of $112.16 billion, a P/E ratio of 31.18 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.38 earnings per share. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the transaction, the executive vice president owned 42,293 shares of the company’s stock, valued at approximately $20,088,752.07. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the transaction, the executive vice president owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This trade represents a 27.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 165,105 shares of company stock valued at $73,858,523 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

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.