First American Trust FSB Has $1.16 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

First American Trust FSB cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 73.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,961 shares of the pharmaceutical company’s stock after selling 8,387 shares during the quarter. First American Trust FSB’s holdings in Vertex Pharmaceuticals were worth $1,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Kovack Advisors Inc. increased its stake in shares of Vertex Pharmaceuticals by 1.9% in the second quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock valued at $570,000 after buying an additional 24 shares during the period. Hohimer Wealth Management LLC grew its holdings in Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock worth $945,000 after acquiring an additional 26 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in Vertex Pharmaceuticals by 1.8% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock valued at $565,000 after acquiring an additional 26 shares during the period. Quent Capital LLC raised its stake in shares of Vertex Pharmaceuticals by 5.5% during the third quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock valued at $196,000 after acquiring an additional 26 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its stake in shares of Vertex Pharmaceuticals by 8.0% in the third quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 26 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 0.9%

NASDAQ:VRTX opened at $481.01 on Tuesday. The firm has a fifty day simple moving average of $463.76 and a two-hundred day simple moving average of $429.57. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The stock has a market capitalization of $122.19 billion, a price-to-earnings ratio of 31.38 and a beta of 0.30.

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

Analyst Ratings Changes

A number of equities research analysts have commented on VRTX shares. Stifel Nicolaus upped their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Morgan Stanley reiterated an “overweight” rating and issued a $570.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Leerink Partners increased their target price 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. Canaccord Genuity Group boosted their price target on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a “hold” rating in a research report on Tuesday, February 17th. Finally, Evercore upped their price objective on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $542.00.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $17,202,600. This represents a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Biller sold 1,925 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total transaction of $886,327.75. Following the transaction, the executive vice president owned 20,819 shares of the company’s stock, valued at $9,585,692.17. This represents a 8.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 100,852 shares of company stock valued at $45,787,299 over the last three months. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals 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.