IHT Wealth Management LLC Purchases Shares of 2,225 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

IHT Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,225 shares of the pharmaceutical company’s stock, valued at approximately $644,000.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Vertex Pharmaceuticals by 0.4% in the 3rd quarter. BlackRock Inc. now owns 25,243,060 shares of the pharmaceutical company’s stock valued at $7,308,875,000 after purchasing an additional 105,908 shares in the last quarter. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 21,132,336 shares of the pharmaceutical company’s stock valued at $6,118,657,000 after purchasing an additional 293,861 shares in the last quarter. FMR LLC raised its position in Vertex Pharmaceuticals by 27.1% in the 2nd quarter. FMR LLC now owns 16,753,011 shares of the pharmaceutical company’s stock valued at $4,720,832,000 after purchasing an additional 3,571,298 shares in the last quarter. State Street Corp raised its position in Vertex Pharmaceuticals by 0.3% in the 3rd quarter. State Street Corp now owns 12,294,791 shares of the pharmaceutical company’s stock valued at $3,559,834,000 after purchasing an additional 30,742 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Vertex Pharmaceuticals by 3.9% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,157,954 shares of the pharmaceutical company’s stock valued at $1,493,458,000 after purchasing an additional 195,271 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $295.77 on Friday. The business has a 50 day simple moving average of $299.15 and a 200-day simple moving average of $299.14. Vertex Pharmaceuticals Incorporated has a 12 month low of $233.01 and a 12 month high of $325.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.83 and a quick ratio of 4.66. The stock has a market capitalization of $76.04 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The pharmaceutical company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.65. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Vertex Pharmaceuticals had a net margin of 37.20% and a return on equity of 27.78%. Vertex Pharmaceuticals’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.18 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 12.44 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CAO Kristen Ambrose sold 1,207 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $287.55, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Vertex Pharmaceuticals news, CAO Kristen Ambrose sold 1,207 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $287.55, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yuchun Lee sold 442 shares of the business’s stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $312.17, for a total transaction of $137,979.14. Following the completion of the transaction, the director now directly owns 1,875 shares in the company, valued at $585,318.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,916 shares of company stock valued at $12,466,970. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VRTX has been the topic of several research analyst reports. SVB Securities cut their target price on Vertex Pharmaceuticals from $374.00 to $365.00 in a research report on Wednesday, February 8th. HC Wainwright raised their target price on Vertex Pharmaceuticals from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Piper Sandler reissued a “neutral” rating and set a $296.00 target price on shares of Vertex Pharmaceuticals in a research report on Wednesday, February 8th. Canaccord Genuity Group initiated coverage on Vertex Pharmaceuticals in a research report on Wednesday, January 18th. They set a “hold” rating and a $311.00 target price on the stock. Finally, SVB Leerink cut their target price on Vertex Pharmaceuticals from $374.00 to $365.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 8th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $327.10.

Vertex Pharmaceuticals Company 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.