1,609 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Performance Wealth Partners LLC

Performance Wealth Partners LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,609 shares of the pharmaceutical company’s stock, valued at approximately $799,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,440,149,000. AIGH Capital Management LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $26,725,000. Bank of New York Mellon Corp purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $830,842,000. Deutsche Bank AG acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at $784,391,000. Finally, Victory Capital Management Inc. raised its stake in Vertex Pharmaceuticals by 49.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock valued at $1,521,851,000 after purchasing an additional 1,109,200 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the completion of the sale, the chief marketing officer owned 15,337 shares of the company’s stock, valued at $7,400,102.50. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total value of $799,779.00. Following the sale, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. This trade represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 10,464 shares of company stock worth $4,959,397. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $515.55 on Tuesday. The firm has a market cap of $130.85 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 2.09 and a beta of 0.30. The stock has a 50-day simple moving average of $484.71 and a 200-day simple moving average of $463.96. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $546.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. Vertex Pharmaceuticals’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.52 earnings per share. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several recent analyst reports. Cantor Fitzgerald raised their target price on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Barclays increased their price objective on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the company a “hold” rating in a research note on Tuesday, August 4th. Truist Financial increased their target price on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley lifted their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $563.50.

Vertex Pharmaceuticals Company 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.