Valley Wealth Managers Inc. Has $20.35 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Valley Wealth Managers Inc. boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,524 shares of the pharmaceutical company’s stock after purchasing an additional 50 shares during the period. Vertex Pharmaceuticals comprises about 1.5% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 24th biggest position. Valley Wealth Managers Inc.’s holdings in Vertex Pharmaceuticals were worth $20,346,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in Vertex Pharmaceuticals by 1.7% during the third quarter. Creative Planning now owns 80,467 shares of the pharmaceutical company’s stock valued at $37,424,000 after purchasing an additional 1,350 shares during the period. NBC Securities Inc. boosted its holdings in Vertex Pharmaceuticals by 34.5% during the third quarter. NBC Securities Inc. now owns 160 shares of the pharmaceutical company’s stock worth $74,000 after purchasing an additional 41 shares during the last quarter. Good Life Advisors LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth $222,000. Stratos Wealth Advisors LLC raised its position in Vertex Pharmaceuticals by 16.2% during the third quarter. Stratos Wealth Advisors LLC now owns 560 shares of the pharmaceutical company’s stock worth $260,000 after acquiring an additional 78 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Vertex Pharmaceuticals by 87.9% in the third quarter. Blue Trust Inc. now owns 2,711 shares of the pharmaceutical company’s stock valued at $1,271,000 after purchasing an additional 1,268 shares during the period. 90.96% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Ourania Tatsis sold 310 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the transaction, the executive vice president now owns 64,021 shares in the company, valued at approximately $29,438,776.43. This trade represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VRTX. HC Wainwright restated a “buy” rating and issued a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Scotiabank boosted their target price on shares of Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price target on shares of Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Finally, Bank of America reduced their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $505.57.

Vertex Pharmaceuticals Trading Down 0.8 %

Shares of NASDAQ VRTX opened at $459.00 on Tuesday. The stock’s 50-day moving average is $435.69 and its two-hundred day moving average is $460.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current fiscal year.

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.