Callan Family Office LLC Has $4.39 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Callan Family Office LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 33.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,205 shares of the pharmaceutical company’s stock after selling 5,510 shares during the quarter. Callan Family Office LLC’s holdings in Vertex Pharmaceuticals were worth $4,388,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey raised its holdings in Vertex Pharmaceuticals by 3.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock worth $17,378,000 after purchasing an additional 1,393 shares during the last quarter. Bailard Inc. grew its position in shares of Vertex Pharmaceuticals by 0.5% during the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock worth $16,983,000 after buying an additional 200 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $10,059,000. Advisory Resource Group bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth approximately $1,286,000. Finally, Generali Asset Management SPA SGR lifted its holdings in Vertex Pharmaceuticals by 41.8% in the third quarter. Generali Asset Management SPA SGR now owns 23,569 shares of the pharmaceutical company’s stock valued at $9,231,000 after buying an additional 6,942 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on VRTX shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, January 21st. Wells Fargo & Company raised their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price objective for the company in a report on Tuesday, January 6th. Morgan Stanley set a $564.00 target price on Vertex Pharmaceuticals in a research note on Friday, December 5th. Finally, Leerink Partners boosted their target price on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $522.68.

Vertex Pharmaceuticals Trading Down 1.4%

VRTX stock opened at $465.61 on Wednesday. The business’s 50-day moving average price is $455.45 and its two-hundred day moving average price is $427.09. The firm has a market cap of $118.13 billion, a PE ratio of 32.84 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.22. The company had revenue of $3.08 billion during 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 for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.38 earnings per share. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $20,088,752.07. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $17,202,600. This represents a 27.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 165,105 shares of company stock worth $73,858,523. 0.20% of the stock is owned by company insiders.

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.