Exchange Traded Concepts LLC Boosts Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Exchange Traded Concepts LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,025 shares of the pharmaceutical company’s stock after acquiring an additional 1,874 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Vertex Pharmaceuticals were worth $5,452,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VRTX. Chesapeake Asset Management LLC raised its stake in Vertex Pharmaceuticals by 110.0% in 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. Colonial Trust Co SC lifted 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 purchasing an additional 38 shares in the last quarter. Total Investment Management Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth $33,000. Financial Network Wealth Advisors LLC boosted its stake in 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 last quarter. Finally, Y.D. More Investments Ltd grew 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 buying an additional 69 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $443.16 on Tuesday. The firm has a market cap of $112.58 billion, a PE ratio of 28.91, a PEG ratio of 1.85 and a beta of 0.31. The firm’s 50 day moving average price is $469.14 and its 200-day moving average price is $442.93. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $510.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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 business had revenue of $3.19 billion during 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 company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Amit Sachdev sold 58,613 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $468.83, for a total value of $27,479,532.79. Following the sale, the executive vice president directly owned 58,934 shares in the company, valued at approximately $27,630,027.22. The trade was a 49.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the completion of the transaction, the executive vice president directly owned 42,293 shares in the company, valued at $20,088,752.07. The trade was a 9.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 93,485 shares of company stock worth $43,967,586. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VRTX. Citigroup increased their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada dropped their price objective on shares of Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $577.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Leerink Partners raised their target price on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research note on Monday, December 29th. Finally, Oppenheimer boosted their target price on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a report on Tuesday, March 10th. One investment 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. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $554.30.

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.