Vertex Pharmaceuticals Incorporated $VRTX Shares Acquired by Strategic Advisors LLC

Strategic Advisors LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 93.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,854 shares of the pharmaceutical company’s stock after purchasing an additional 4,272 shares during the period. Strategic Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $3,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Chesapeake Asset Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after purchasing an additional 33 shares during the period. Access Investment Management LLC purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $27,000. Legacy Investment Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth $29,000. Total Investment Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $33,000. Finally, Financial Network Wealth Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 50.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the transaction, the executive vice president directly owned 42,293 shares in the company, valued at approximately $20,088,752.07. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the completion of the sale, the executive vice president owned 37,725 shares of the company’s stock, valued at $17,202,600. This trade represents a 27.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 165,105 shares of company stock worth $73,858,523. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $477.91 on Thursday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The stock has a market cap of $121.26 billion, a PE ratio of 33.70 and a beta of 0.31. The business’s fifty day moving average price is $451.84 and its two-hundred day moving average price is $427.22.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the company earned $4.38 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VRTX shares. Sanford C. Bernstein upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Monday, January 12th. UBS Group increased their price objective on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Stifel Nicolaus decreased their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Finally, Scotiabank assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $522.68.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.