RWA Wealth Partners LLC Increases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

RWA Wealth Partners LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 330.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,618 shares of the pharmaceutical company’s stock after purchasing an additional 2,778 shares during the quarter. RWA Wealth Partners LLC’s holdings in Vertex Pharmaceuticals were worth $1,472,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in VRTX. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 3.9% during the fourth quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock worth $1,605,146,000 after buying an additional 147,248 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in Vertex Pharmaceuticals by 2.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 5,912 shares of the pharmaceutical company’s stock worth $2,406,000 after buying an additional 119 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth about $309,000. CWM LLC grew its position in Vertex Pharmaceuticals by 3.5% during the fourth quarter. CWM LLC now owns 5,565 shares of the pharmaceutical company’s stock worth $2,264,000 after buying an additional 190 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Vertex Pharmaceuticals by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,312 shares of the pharmaceutical company’s stock valued at $16,403,000 after purchasing an additional 1,914 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the transaction, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Kristen Ambrose sold 1,374 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $577,409.76. Following the transaction, the chief accounting officer now directly owns 9,676 shares of the company’s stock, valued at approximately $4,066,242.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the transaction, the executive vice president now directly owns 55,804 shares in the company, valued at $23,755,762.80. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock valued at $5,203,249 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $404.91 on Wednesday. The business’s fifty day moving average price is $413.00 and its 200-day moving average price is $398.36. The stock has a market capitalization of $104.65 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.88 and a beta of 0.35. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. Vertex Pharmaceuticals Incorporated has a 1-year low of $316.43 and a 1-year high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.85 by $0.35. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. During the same period in the prior year, the firm earned $3.33 EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. HC Wainwright upped their price target on Vertex Pharmaceuticals from $457.00 to $462.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Wolfe Research began coverage on Vertex Pharmaceuticals in a report on Thursday, February 15th. They set an “outperform” rating and a $515.00 target price on the stock. Royal Bank of Canada upped their target price on Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 6th. Sanford C. Bernstein downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 2nd. Finally, Truist Financial upped their price target on Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $429.45.

About Vertex Pharmaceuticals

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.