Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 25.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,648 shares of the pharmaceutical company’s stock after selling 1,970 shares during the quarter. NewEdge Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $2,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Chesapeake Asset Management LLC raised its stake in Vertex Pharmaceuticals by 110.0% during the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after acquiring an additional 33 shares during the period. Access Investment Management LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $27,000. Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals in the second quarter worth approximately $29,000. Total Investment Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $33,000. Finally, Financial Network Wealth Advisors LLC raised its holdings in Vertex Pharmaceuticals by 50.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock worth $34,000 after buying an additional 29 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group increased their price objective on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Stifel Nicolaus increased their target price on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Leerink Partners upped their price objective on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a research report on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $570.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Finally, Barclays boosted their price target on Vertex Pharmaceuticals from $606.00 to $607.00 and gave the company an “overweight” rating in a research note on Tuesday. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Vertex Pharmaceuticals Stock Up 1.6%

Shares of VRTX stock opened at $476.90 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The company’s fifty day simple moving average is $463.26 and its 200-day simple moving average is $428.53. The firm has a market cap of $121.15 billion, a PE ratio of 31.11 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Mark E. Bunnage sold 2,021 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $930,529.03. Following the completion of the sale, the executive vice president owned 12,914 shares of the company’s stock, valued at $5,945,993.02. The trade was a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Edward Morrow Atkinson III sold 1,751 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $806,212.93. Following the completion of the transaction, the executive vice president directly owned 22,046 shares of the company’s stock, valued at $10,150,639.78. This represents a 7.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,852 shares of company stock worth $45,787,299 in the last ninety days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.