Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 68 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,048 shares of the pharmaceutical company’s stock after purchasing an additional 68 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Vertex Pharmaceuticals were worth $426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arlington Trust Co LLC increased its holdings in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $30,000. Baystate Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 49.0% in the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 25 shares during the period. OFI Invest Asset Management bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Finally, NBC Securities Inc. acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $34,000. 90.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

VRTX has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Wolfe Research started coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, February 15th. They issued an “outperform” rating and a $515.00 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Oppenheimer reaffirmed an “outperform” rating and issued a $500.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Finally, Truist Financial increased their price objective 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 analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $432.18.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $418.82 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. The company has a market capitalization of $108.25 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.89 and a beta of 0.39. The company’s 50-day simple moving average is $408.02 and its two-hundred day simple moving average is $400.75. Vertex Pharmaceuticals Incorporated has a one year low of $320.01 and a one year high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company earned $2.67 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current year.

Vertex Pharmaceuticals Profile

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.