726 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 726 shares of the pharmaceutical company’s stock, valued at approximately $295,000.

Several other large investors also recently modified their holdings of the business. OFI Invest Asset Management acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Arlington Trust Co LLC lifted its holdings in shares of Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 33 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $30,000. Baystate Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after buying an additional 25 shares during the period. Finally, NBC Securities Inc. bought a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $34,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $405.97 on Tuesday. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $408.44 and a 200 day simple moving average of $400.41. Vertex Pharmaceuticals Incorporated has a 12-month low of $320.01 and a 12-month high of $448.40. The company has a market cap of $104.93 billion, a P/E ratio of 28.98, a PEG ratio of 1.89 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business posted $2.67 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 2,656 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 12th. The stock was sold at an average price of $419.51, for a total value of $1,114,218.56. Following the completion of the transaction, the chairman now directly owns 27,644 shares in the company, valued at $11,596,934.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Jeffrey M. Leiden sold 2,656 shares of Vertex Pharmaceuticals stock in a transaction on Monday, February 12th. The stock was sold at an average price of $419.51, for a total transaction of $1,114,218.56. Following the completion of the sale, the chairman now owns 27,644 shares of the company’s stock, valued at $11,596,934.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Stuart A. Arbuckle sold 4,295 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the sale, the chief operating officer now directly owns 75,718 shares in the company, valued at approximately $31,819,732.32. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock worth $5,203,249 in the last 90 days. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group reduced their price target on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Sanford C. Bernstein lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 2nd. Oppenheimer restated an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Piper Sandler upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $432.00.

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.