Axxcess Wealth Management LLC Has $424,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Axxcess Wealth Management LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 63.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,052 shares of the pharmaceutical company’s stock after selling 1,798 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $424,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC boosted its holdings in Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after acquiring an additional 23 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the last quarter. Simon Quick Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 1.1% during the 4th quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock worth $900,000 after buying an additional 24 shares during the period. Spinnaker Trust raised its stake in shares of Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock worth $497,000 after buying an additional 25 shares during the last quarter. Finally, Strategic Advisors LLC boosted its stake in Vertex Pharmaceuticals by 0.6% in the fourth quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock valued at $1,807,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 310 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,315 shares of company stock valued at $2,121,012 over the last 90 days. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of analyst reports. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. HC Wainwright reissued a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Stifel Nicolaus raised their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Piper Sandler lowered their price target on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, Bank of America reduced their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $506.70.

Vertex Pharmaceuticals Stock Down 1.4 %

NASDAQ:VRTX opened at $503.20 on Friday. The firm has a market capitalization of $129.22 billion, a price-to-earnings ratio of -228.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88. The stock’s 50 day moving average price is $467.89 and its two-hundred day moving average price is $462.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates 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 expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.