Broderick Brian C Purchases 1,454 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Broderick Brian C grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,656 shares of the pharmaceutical company’s stock after buying an additional 1,454 shares during the period. Vertex Pharmaceuticals makes up about 1.5% of Broderick Brian C’s investment portfolio, making the stock its 24th largest holding. Broderick Brian C’s holdings in Vertex Pharmaceuticals were worth $8,331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. Nordea Investment Management AB boosted its position in shares of Vertex Pharmaceuticals by 23.8% during the fourth quarter. Nordea Investment Management AB now owns 447,169 shares of the pharmaceutical company’s stock valued at $202,612,000 after buying an additional 86,084 shares during the last quarter. Cooper Financial Group increased its holdings in Vertex Pharmaceuticals by 130.2% in the 4th quarter. Cooper Financial Group now owns 5,341 shares of the pharmaceutical company’s stock worth $2,421,000 after buying an additional 3,021 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Vertex Pharmaceuticals by 9.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 832,853 shares of the pharmaceutical company’s stock worth $377,582,000 after buying an additional 69,150 shares during the last quarter. Allworth Financial LP raised its position in Vertex Pharmaceuticals by 414.1% in the 4th quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company’s stock worth $6,363,000 after buying an additional 11,306 shares during the last quarter. Finally, Sandro Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $1,436,000. Institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 6,988 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the completion of the sale, the chief marketing officer directly owned 26,088 shares of the company’s stock, valued at approximately $11,739,600. This represents a 21.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the transaction, the executive vice president owned 45,321 shares in the company, valued at $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 18,874 shares of company stock worth $8,707,966. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $485.65 on Monday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $533.67. The business’s 50-day moving average is $462.54 and its two-hundred day moving average is $459.00. The company has a market cap of $123.26 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 2.11 and a beta of 0.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.06 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Vertex Pharmaceuticals from $542.00 to $560.00 and gave the company a “buy” rating in a report on Monday, July 13th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Canaccord Genuity Group lowered their price objective on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research report on Tuesday, May 5th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Sanford C. Bernstein dropped their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Twenty-two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $559.61.

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.