Gradient Investments LLC Has $19.76 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Gradient Investments LLC boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,595 shares of the pharmaceutical company’s stock after purchasing an additional 2,618 shares during the quarter. Gradient Investments LLC’s holdings in Vertex Pharmaceuticals were worth $19,764,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chesapeake Asset Management LLC boosted 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 worth $25,000 after buying an additional 33 shares during the period. Colonial Trust Co SC raised its holdings in 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 stake in Vertex Pharmaceuticals during the second quarter worth approximately $33,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 50.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 29 shares during the period. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Vertex Pharmaceuticals by 345.0% during the third quarter. Y.D. More Investments Ltd now owns 89 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 69 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.9%

Shares of VRTX stock opened at $454.04 on Monday. The stock has a market cap of $115.34 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $513.97. The stock has a 50 day simple moving average of $469.17 and a 200 day simple moving average of $440.72.

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

Analyst Ratings Changes

VRTX has been the topic of a number of recent research reports. Jefferies Financial Group began coverage on Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They set a “buy” rating and a $580.00 target price on the stock. Barclays upped their price objective on Vertex Pharmaceuticals from $606.00 to $607.00 and gave the company an “overweight” rating in a report on Tuesday, February 17th. HC Wainwright increased their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Citigroup lifted their target price on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $554.30.

Insider Activity at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,329 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $481.79, for a total value of $1,122,088.91. Following the transaction, the chief marketing officer owned 35,405 shares in the company, valued at approximately $17,057,774.95. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark E. Bunnage sold 620 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $301,537.00. Following the completion of the transaction, the executive vice president directly owned 7,284 shares of the company’s stock, valued at approximately $3,542,573.40. This trade represents a 7.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 93,485 shares of company stock worth $43,967,586 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

About Vertex Pharmaceuticals

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.