Choreo LLC Grows Position in Vertex Pharmaceuticals Incorporated $VRTX

Choreo LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,008 shares of the pharmaceutical company’s stock after buying an additional 1,154 shares during the period. Choreo LLC’s holdings in Vertex Pharmaceuticals were worth $3,180,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Chesapeake Asset Management LLC increased its position in shares of Vertex Pharmaceuticals by 110.0% during the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Colonial Trust Co SC raised its stake in shares of Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. Total Investment Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $33,000. Capital Advisors Ltd. LLC lifted its holdings in shares of Vertex Pharmaceuticals by 54.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 77 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 27 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 50.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In other news, EVP Jonathan Biller sold 1,925 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $886,327.75. Following the completion of the transaction, the executive vice president owned 20,819 shares in the company, valued at approximately $9,585,692.17. This trade represents a 8.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sachdev sold 58,613 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $468.83, for a total value of $27,479,532.79. Following the transaction, the executive vice president directly owned 58,934 shares of the company’s stock, valued at approximately $27,630,027.22. This represents a 49.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,431 shares of company stock worth $37,875,167 over the last three months. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.9%

Vertex Pharmaceuticals stock opened at $440.05 on Tuesday. The firm has a market cap of $111.93 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 1.87 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $510.77. The company’s 50 day moving average is $463.52 and its two-hundred day moving average is $446.78.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VRTX shares. Jefferies Financial Group assumed coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price for the company. UBS Group raised their price target on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Oppenheimer lifted their price objective on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Bank of America boosted 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 raised Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $555.00.

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.