2,440 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, Holdings Channel reports. The institutional investor bought 2,440 shares of the pharmaceutical company’s stock, valued at approximately $956,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Modern Wealth Management LLC raised its stake in shares of Vertex Pharmaceuticals by 9.9% during the 3rd quarter. Modern Wealth Management LLC now owns 1,166 shares of the pharmaceutical company’s stock worth $456,000 after purchasing an additional 105 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $2,842,000. Aptus Capital Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 13.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 15,755 shares of the pharmaceutical company’s stock valued at $6,170,000 after buying an additional 1,868 shares in the last quarter. One Wealth Capital Management LLC grew its stake in shares of Vertex Pharmaceuticals by 24.3% in the 3rd quarter. One Wealth Capital Management LLC now owns 998 shares of the pharmaceutical company’s stock valued at $391,000 after buying an additional 195 shares in the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new position in Vertex Pharmaceuticals in the third quarter worth approximately $392,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on VRTX. Barclays raised their price objective on shares of Vertex Pharmaceuticals from $606.00 to $607.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Morgan Stanley restated an “overweight” rating and set a $570.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. HC Wainwright set a $591.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 17th. Leerink Partners lifted their price objective on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a research note on Monday, December 29th. Finally, Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the stock a “hold” rating in a report on Tuesday, February 17th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $542.00.

Vertex Pharmaceuticals Stock Down 0.9%

Shares of Vertex Pharmaceuticals stock opened at $456.69 on Friday. The stock has a market capitalization of $116.01 billion, a P/E ratio of 29.79 and a beta of 0.31. The stock has a 50 day moving average price of $467.48 and a two-hundred day moving average price of $434.75. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68.

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

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Amit Sachdev sold 58,613 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $468.83, for a total value of $27,479,532.79. Following the sale, the executive vice president directly owned 58,934 shares of the company’s stock, valued at approximately $27,630,027.22. This trade represents a 49.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark E. Bunnage sold 2,021 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $930,529.03. Following the completion of the transaction, the executive vice president owned 12,914 shares in the company, valued at $5,945,993.02. The trade was a 13.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 91,156 shares of company stock worth $42,845,497. Corporate insiders own 0.20% of the company’s stock.

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.