Sound View Wealth Advisors Group LLC Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sound View Wealth Advisors Group LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,436 shares of the pharmaceutical company’s stock after purchasing an additional 136 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Vertex Pharmaceuticals were worth $1,384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $1,510,000. Czech National Bank raised its holdings in shares of Vertex Pharmaceuticals by 6.2% in the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after buying an additional 3,260 shares during the period. Highview Capital Management LLC DE raised its holdings in shares of Vertex Pharmaceuticals by 1.8% in the 4th quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after buying an additional 102 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $662,000. Finally, Davidson Investment Advisors grew its stake in Vertex Pharmaceuticals by 26.0% during the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock worth $24,630,000 after purchasing an additional 12,631 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several analyst reports. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their target price for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Bank of America lowered their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a research note on Thursday, January 30th. Stifel Nicolaus boosted their target price on Vertex Pharmaceuticals from $490.00 to $494.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Finally, Truist Financial boosted their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 530 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the sale, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at $27,825,928.26. This represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,084 shares of company stock valued at $505,512 in the last ninety days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.5 %

Vertex Pharmaceuticals stock opened at $488.29 on Monday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two 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. The company has a market capitalization of $125.39 billion, a P/E ratio of -221.95, a PEG ratio of 2.11 and a beta of 0.41. The stock has a 50-day simple moving average of $448.27 and a 200-day simple moving average of $461.15.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 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 expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.