Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Signature Wealth Management Group

Signature Wealth Management Group boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,075 shares of the pharmaceutical company’s stock after purchasing an additional 103 shares during the quarter. Signature Wealth Management Group’s holdings in Vertex Pharmaceuticals were worth $1,641,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $33,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Truvestments Capital LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $35,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRTX shares. Piper Sandler reduced their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. reduced their target price on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their target price for the company from $408.00 to $424.00 in a report on Tuesday, February 11th. Stifel Nicolaus increased their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a report on Monday, December 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $506.70.

Vertex Pharmaceuticals Trading Up 0.4 %

Shares of NASDAQ:VRTX opened at $504.77 on Friday. The company has a market cap of $129.62 billion, a P/E ratio of -229.44, a P/E/G ratio of 2.11 and a beta of 0.41. The stock’s 50-day moving average is $457.74 and its 200-day moving average is $461.89. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Altshuler sold 3,231 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,315 shares of company stock worth $2,121,012. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.