Wealthsource Partners LLC Acquires 359 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wealthsource Partners LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 49.7% during the third quarter, Holdings Channel reports. The institutional investor owned 1,081 shares of the pharmaceutical company’s stock after buying an additional 359 shares during the quarter. Wealthsource Partners LLC’s holdings in Vertex Pharmaceuticals were worth $313,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Regal Investment Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 8.8% in the third quarter. Regal Investment Advisors LLC now owns 5,691 shares of the pharmaceutical company’s stock valued at $1,648,000 after buying an additional 462 shares in the last quarter. State Street Corp lifted its stake in shares of Vertex Pharmaceuticals by 0.3% in the third quarter. State Street Corp now owns 12,294,791 shares of the pharmaceutical company’s stock valued at $3,559,834,000 after buying an additional 30,742 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Vertex Pharmaceuticals by 1.0% in the third quarter. Public Employees Retirement System of Ohio now owns 155,501 shares of the pharmaceutical company’s stock valued at $45,024,000 after buying an additional 1,500 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Vertex Pharmaceuticals by 44.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 201,674 shares of the pharmaceutical company’s stock valued at $58,393,000 after buying an additional 62,213 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Vertex Pharmaceuticals by 0.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 452,718 shares of the pharmaceutical company’s stock valued at $131,080,000 after buying an additional 2,161 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Activity at Vertex Pharmaceuticals

In related news, CAO Kristen Ambrose sold 1,207 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $287.55, for a total transaction of $347,072.85. Following the completion of the transaction, the chief accounting officer now owns 7,303 shares of the company’s stock, valued at $2,099,977.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Stuart A. Arbuckle sold 5,034 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $287.47, for a total transaction of $1,447,123.98. Following the completion of the transaction, the chief operating officer now owns 56,556 shares of the company’s stock, valued at $16,258,153.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Kristen Ambrose sold 1,207 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $287.55, for a total transaction of $347,072.85. Following the transaction, the chief accounting officer now directly owns 7,303 shares of the company’s stock, valued at approximately $2,099,977.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,916 shares of company stock valued at $12,466,970. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VRTX shares. Jefferies Financial Group lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $340.00 price target on the stock. in a research report on Monday, December 19th. HC Wainwright raised their price target on shares of Vertex Pharmaceuticals from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Morgan Stanley dropped their price target on shares of Vertex Pharmaceuticals from $286.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 8th. SVB Securities dropped their price target on shares of Vertex Pharmaceuticals from $374.00 to $365.00 in a research report on Wednesday, February 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $296.00 price target on shares of Vertex Pharmaceuticals in a research report on Wednesday, February 8th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $327.10.

Vertex Pharmaceuticals Price Performance

VRTX opened at $295.25 on Wednesday. The company has a market capitalization of $75.91 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.49 and a beta of 0.49. The company has a quick ratio of 4.66, a current ratio of 4.83 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $298.63 and a 200-day moving average price of $298.94. Vertex Pharmaceuticals Incorporated has a twelve month low of $233.01 and a twelve month high of $325.19.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last posted its earnings results on Tuesday, February 7th. The pharmaceutical company reported $3.76 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.65. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.30 billion. Vertex Pharmaceuticals had a net margin of 37.20% and a return on equity of 27.78%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $3.18 earnings per share. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 12.44 EPS for the current year.

Vertex Pharmaceuticals Profile

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Vertex Pharmaceuticals, Inc is a global biotechnology company, which engages in the business of discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.