1,048 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by Beirne Wealth Consulting Services LLC

Beirne Wealth Consulting Services LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,048 shares of the pharmaceutical company’s stock, valued at approximately $410,000.

Several other institutional investors have also recently bought and sold shares of the business. Chesapeake Asset Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Access Investment Management LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $29,000. Total Investment Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth $33,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $491.47 on Tuesday. The firm has a market cap of $124.70 billion, a price-to-earnings ratio of 32.06 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68. The firm has a 50 day moving average price of $460.97 and a two-hundred day moving average price of $427.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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 for 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 quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 earnings per share. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of research reports. Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price objective on the stock in a research report on Tuesday, January 6th. Wells Fargo & Company boosted their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock 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 report on Friday. Leerink Partners lifted their target price on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. Finally, HC Wainwright boosted their target price on shares of Vertex Pharmaceuticals from $478.00 to $518.00 and gave the stock a “buy” rating in a report on Friday. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $537.05.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the transaction, the executive vice president directly owned 42,293 shares in the company, valued at approximately $20,088,752.07. This represents a 9.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This trade represents a 27.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 99,352 shares of company stock worth $45,037,314 over the last three months. Insiders own 0.20% of the company’s stock.

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.