B. Riley Wealth Advisors Inc. Sells 1,881 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

B. Riley Wealth Advisors Inc. decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,115 shares of the pharmaceutical company’s stock after selling 1,881 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $2,865,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $30,000. Golden State Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $37,000. Truvestments Capital LLC grew its holdings in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after purchasing an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $40,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $41,000. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VRTX shares. JPMorgan Chase & Co. upped their target price on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Truist Financial upped their target price on shares of Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $515.04.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $436.00 on Monday. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a market cap of $111.96 billion, a PE ratio of -198.18, a PEG ratio of 2.11 and a beta of 0.51. The company’s 50-day moving average is $476.26 and its two-hundred day moving average is $462.63.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the company posted $4.76 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 530 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $475.34, for a total value of $251,930.20. Following the sale, the executive vice president now directly owns 58,539 shares in the company, valued at $27,825,928.26. This trade represents a 0.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,813 shares of company stock worth $1,889,514. Company insiders own 0.20% of the company’s stock.

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.