1858 Wealth Management LLC Buys 1,079 Shares of Vertex Pharmaceuticals Incorporated $VRTX

1858 Wealth Management LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 43.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,542 shares of the pharmaceutical company’s stock after purchasing an additional 1,079 shares during the period. 1858 Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,387,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hohimer Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock worth $945,000 after acquiring an additional 26 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Vertex Pharmaceuticals by 1.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock valued at $565,000 after acquiring an additional 26 shares during the last quarter. Quent Capital LLC increased its position in Vertex Pharmaceuticals by 5.5% in the third quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock worth $196,000 after purchasing an additional 26 shares during the period. Washington Trust Advisors Inc. increased its position in Vertex Pharmaceuticals by 8.0% in the third quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 26 shares during the period. Finally, Defined Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 3.0% during the 3rd quarter. Defined Wealth Management LLC now owns 932 shares of the pharmaceutical company’s stock worth $365,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $469.34 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68. The stock has a market cap of $119.23 billion, a P/E ratio of 30.62, a P/E/G ratio of 2.00 and a beta of 0.31. The firm has a 50 day moving average price of $470.03 and a 200 day moving average price of $438.12.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing the consensus estimate of $5.05 by ($0.02). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $3.98 earnings per share. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Mark E. Bunnage sold 620 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $301,537.00. Following the transaction, the executive vice president owned 7,284 shares in the company, valued at $3,542,573.40. The trade was a 7.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Duncan Mckechnie sold 4,910 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the completion of the transaction, the executive vice president owned 17,559 shares of the company’s stock, valued at $8,562,646.35. This represents a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,156 shares of company stock worth $42,845,497 in the last three months. 0.20% of the stock is owned by insiders.

Trending Headlines about Vertex Pharmaceuticals

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Several major analysts raised coverage and targets for VRTX, boosting bullish sentiment and shorter-term buying interest. Oppenheimer Raises Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $600.00
• Positive Sentiment: Analyst upgrades translated into intraday strength earlier in the week (shares traded notably higher on upgrade headlines), signaling renewed investor appetite. Vertex Pharmaceuticals (NASDAQ:VRTX) Trading 9.9% Higher on Analyst Upgrade
• Positive Sentiment: New research coverage from Jefferies adds another channel for institutional visibility and could support longer-term demand. Vertex Pharmaceuticals (NASDAQ:VRTX) Research Coverage Started at Jefferies Financial Group
• Positive Sentiment: Retail and media interest has picked up — headlines highlighting a recent ~8% jump are drawing attention from momentum traders. This helps explain recent volume spikes and short-term volatility. This Stock Just Jumped By 8%: Is It Too Late to Buy?
• Neutral Sentiment: “Trending stock” write-ups from Zacks/Yahoo summarize catalysts and risks for new readers; useful for context but unlikely to move price by themselves. Vertex Pharmaceuticals Incorporated (VRTX) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyses that list reasons to watch VRTX (growth from cystic fibrosis and extending franchises) and one caution help frame investor decisions but don’t introduce a new catalyst. 2 Reasons to Watch VRTX and 1 to Stay Cautious
• Neutral Sentiment: Long-term performance pieces and market-focus coverage provide background on investor returns and index attention; helpful for positioning but not immediate drivers. If You Invested $1000 In Vertex Pharmaceuticals Stock 20 Years Ago…
• Negative Sentiment: Despite the upgrades, the stock has retraced from the immediate highs — recent intraday declines and a prior small earnings EPS miss (Feb quarter EPS slightly below consensus) leave some investors taking profits. Vertex Pharmaceuticals (VRTX) Registers a Bigger Fall Than the Market

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VRTX shares. Sanford C. Bernstein restated an “outperform” rating and set a $577.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $570.00 to $596.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Wells Fargo & Company increased their price objective on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Scotiabank raised their price objective on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, HC Wainwright lifted their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $553.36.

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.