Cwm LLC Grows Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Cwm LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,343 shares of the pharmaceutical company’s stock after acquiring an additional 1,401 shares during the period. Cwm LLC’s holdings in Vertex Pharmaceuticals were worth $3,329,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after buying an additional 579 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Vertex Pharmaceuticals in the second quarter worth about $228,000. NewEdge Advisors LLC grew its holdings in Vertex Pharmaceuticals by 9.0% during the 2nd quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after acquiring an additional 986 shares in the last quarter. ICW Investment Advisors LLC grew its holdings in Vertex Pharmaceuticals by 5.0% during the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after acquiring an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its position in Vertex Pharmaceuticals by 26.3% during the 2nd quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after purchasing an additional 1,518 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In other news, EVP Mark E. Bunnage sold 620 shares of the stock in a transaction that occurred on 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. This trade represents a 7.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Biller sold 945 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $459,600.75. Following the transaction, the executive vice president directly owned 13,659 shares in the company, valued at approximately $6,643,054.65. The trade was a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 80,431 shares of company stock valued at $37,875,167 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. HC Wainwright boosted their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Truist Financial raised Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, March 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $577.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Oppenheimer boosted their price target on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Finally, Scotiabank upped their price objective on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.00.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $435.10 on Friday. The firm has a market capitalization of $110.67 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 1.95 and a beta of 0.36. The business has a fifty day moving average of $459.07 and a 200 day moving average of $448.37. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $510.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.98 earnings per share. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 16.77 earnings per share for the current year.

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.