Global Retirement Partners LLC Grows Stake in Vertex Pharmaceuticals Incorporated $VRTX

Global Retirement Partners LLC lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 86.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,345 shares of the pharmaceutical company’s stock after acquiring an additional 2,012 shares during the period. Global Retirement Partners LLC’s holdings in Vertex Pharmaceuticals were worth $1,970,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $29,000. IMG Wealth Management Inc. raised its position in shares of Vertex Pharmaceuticals by 277.8% in the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 50 shares in the last quarter. Colonial Trust Co SC raised its position in shares of Vertex Pharmaceuticals by 118.8% in the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Ares Financial Consulting LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $33,000. Finally, Archer Investment Corp raised its position in shares of Vertex Pharmaceuticals by 89.7% in the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VRTX. Truist Financial raised Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Monday, April 27th. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Oppenheimer increased their target price on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Jefferies Financial Group started coverage on Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They set a “buy” rating and a $580.00 price objective for the company. Finally, HC Wainwright raised their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.17.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Edward Morrow Atkinson III sold 668 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $324,881.80. Following the completion of the sale, the executive vice president directly owned 18,432 shares of the company’s stock, valued at approximately $8,964,403.20. The trade was a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 21,189 shares of company stock worth $9,923,036. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 0.2%

Vertex Pharmaceuticals stock opened at $434.52 on Friday. The firm has a market cap of $110.28 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.86 and a beta of 0.30. The stock has a fifty day simple moving average of $441.55 and a two-hundred day simple moving average of $450.85. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.06 EPS. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.97 EPS for the current fiscal year.

About Vertex Pharmaceuticals

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.