Cetera Investment Advisers Has $5.41 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cetera Investment Advisers increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,381 shares of the pharmaceutical company’s stock after purchasing an additional 1,464 shares during the quarter. Cetera Investment Advisers’ holdings in Vertex Pharmaceuticals were worth $5,413,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sandy Spring Bank increased its position in shares of Vertex Pharmaceuticals by 1,014.3% during the 1st quarter. Sandy Spring Bank now owns 78 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 71 shares in the last quarter. Independence Bank of Kentucky acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $25,000. Marquette Asset Management LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $27,000. Compass Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $29,000. Finally, Quent Capital LLC increased its position in Vertex Pharmaceuticals by 91.1% in the 2nd quarter. Quent Capital LLC now owns 86 shares of the pharmaceutical company’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,500 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $355.00, for a total transaction of $887,500.00. Following the completion of the transaction, the executive vice president now directly owns 48,637 shares of the company’s stock, valued at $17,266,135. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,500 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $355.00, for a total transaction of $887,500.00. Following the completion of the transaction, the executive vice president now directly owns 48,637 shares of the company’s stock, valued at $17,266,135. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce I. Sachs sold 11,250 shares of Vertex Pharmaceuticals stock in a transaction on Monday, November 6th. The stock was sold at an average price of $385.00, for a total value of $4,331,250.00. Following the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $15,400,000. The disclosure for this sale can be found here. Insiders sold a total of 50,411 shares of company stock valued at $18,511,525 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $350.50 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $282.21 and a 1-year high of $387.42. The company has a current ratio of 4.08, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $360.28 and a 200 day simple moving average of $350.60. The stock has a market capitalization of $90.32 billion, a PE ratio of 26.29, a P/E/G ratio of 2.28 and a beta of 0.45.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 6th. The pharmaceutical company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.53 by $0.55. Vertex Pharmaceuticals had a net margin of 35.94% and a return on equity of 22.79%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business earned $3.62 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 13.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VRTX shares. Truist Financial reissued a “buy” rating and issued a $456.00 price target on shares of Vertex Pharmaceuticals in a report on Wednesday, October 4th. Oppenheimer reiterated an “outperform” rating and set a $410.00 price objective on shares of Vertex Pharmaceuticals in a report on Wednesday, August 2nd. Canaccord Genuity Group increased their target price on Vertex Pharmaceuticals from $312.00 to $315.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. Wells Fargo & Company raised their target price on shares of Vertex Pharmaceuticals from $410.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Finally, Royal Bank of Canada reduced their price target on shares of Vertex Pharmaceuticals from $350.00 to $347.00 and set a “sector perform” rating for the company in a report on Tuesday, November 7th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $376.13.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.