2,082 Shares in Vertex Pharmaceuticals Incorporated $VRTX Acquired by Waterfront Wealth Inc.

Waterfront Wealth Inc. purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,082 shares of the pharmaceutical company’s stock, valued at approximately $886,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Access Investment Management LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $27,000. Chesapeake Asset Management LLC grew its position in Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $29,000. Total Investment Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $33,000. Finally, Financial Network Wealth Advisors LLC increased its stake in Vertex Pharmaceuticals by 50.9% in the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 29 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VRTX shares. Morgan Stanley set a $564.00 price target on Vertex Pharmaceuticals in a research report on Friday, December 5th. Stifel Nicolaus dropped their target price on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Barclays upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $414.00 to $606.00 in a report on Tuesday, January 27th. Wolfe Research raised shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price objective for the company in a research report on Tuesday, January 6th. Finally, Leerink Partners lifted their price target on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $522.68.

Vertex Pharmaceuticals Trading Down 1.5%

VRTX opened at $470.87 on Tuesday. The company has a 50 day moving average of $458.54 and a 200 day moving average of $427.09. The company has a market cap of $119.47 billion, a PE ratio of 33.21 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68.

Insider Buying and Selling

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