Beacon Investment Advisory Services Inc. Sells 2,049 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Beacon Investment Advisory Services Inc. decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 74,093 shares of the pharmaceutical company’s stock after selling 2,049 shares during the period. Vertex Pharmaceuticals accounts for about 1.4% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 18th largest position. Beacon Investment Advisory Services Inc.’s holdings in Vertex Pharmaceuticals were worth $33,591,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Vertex Pharmaceuticals by 3.8% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 544,978 shares of the pharmaceutical company’s stock valued at $213,435,000 after purchasing an additional 20,053 shares during the last quarter. Leuthold Group LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $5,030,000. Danske Bank A S bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $64,417,000. Advisory Resource Group bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $1,286,000. Finally, ING Groep NV purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $4,695,000. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on VRTX. UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Wells Fargo & Company lifted their price target on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Royal Bank Of Canada reduced their price target on Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Bank of America increased their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Truist Financial upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $554.30.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $433.07 on Monday. The firm’s 50 day simple moving average is $469.10 and its two-hundred day simple moving average is $442.61. The firm has a market capitalization of $110.01 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.85 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $510.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the firm earned $3.98 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 1,846 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $897,802.10. Following the sale, the executive vice president owned 55,570 shares in the company, valued at approximately $27,026,469.50. The trade was a 3.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 260 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $126,451.00. Following the completion of the transaction, the executive vice president owned 46,763 shares of the company’s stock, valued at approximately $22,743,185.05. The trade was a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 93,485 shares of company stock worth $43,967,586 in the last quarter. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Company 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.