Angeles Wealth Management LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Angeles Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 864 shares of the pharmaceutical company’s stock after buying an additional 46 shares during the period. Angeles Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $304,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in Vertex Pharmaceuticals in the second quarter worth $852,000. Commonwealth Equity Services LLC lifted its position in shares of Vertex Pharmaceuticals by 3.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 69,535 shares of the pharmaceutical company’s stock worth $24,470,000 after purchasing an additional 2,225 shares during the period. Oarsman Capital Inc. boosted its stake in shares of Vertex Pharmaceuticals by 21.5% during the 2nd quarter. Oarsman Capital Inc. now owns 4,807 shares of the pharmaceutical company’s stock valued at $1,692,000 after purchasing an additional 852 shares in the last quarter. Shelton Capital Management increased its position in shares of Vertex Pharmaceuticals by 4.0% during the second quarter. Shelton Capital Management now owns 23,769 shares of the pharmaceutical company’s stock valued at $8,365,000 after buying an additional 907 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Vertex Pharmaceuticals by 37.1% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 22,195 shares of the pharmaceutical company’s stock worth $7,811,000 after buying an additional 6,011 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.2 %

NASDAQ:VRTX opened at $350.50 on Friday. The company has a market cap of $90.32 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 2.28 and a beta of 0.45. 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 company has a 50 day simple moving average of $360.28 and a two-hundred day simple moving average of $350.63. Vertex Pharmaceuticals Incorporated has a 12 month low of $282.21 and a 12 month high of $387.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 6th. The pharmaceutical company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.53 by $0.55. Vertex Pharmaceuticals had a return on equity of 22.79% and a net margin of 35.94%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business earned $3.62 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 13.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $456.00 target price on shares of Vertex Pharmaceuticals in a report on Wednesday, October 4th. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $359.00 to $364.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 8th. Oppenheimer reiterated an “outperform” rating and issued a $410.00 price target on shares of Vertex Pharmaceuticals in a research note on Wednesday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $380.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday. Finally, Wells Fargo & Company raised their target price on shares of Vertex Pharmaceuticals from $410.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $376.13.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $355.00, for a total value of $887,500.00. Following the completion of the sale, the executive vice president now directly owns 48,637 shares in the company, valued at approximately $17,266,135. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ourania Tatsis sold 2,500 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $355.00, for a total value of $887,500.00. Following the completion of the transaction, the executive vice president now owns 48,637 shares in the company, valued at approximately $17,266,135. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 242 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $360.00, for a total value of $87,120.00. Following the completion of the sale, the director now owns 4,144 shares of the company’s stock, valued at $1,491,840. The disclosure for this sale can be found here. Insiders have sold 50,411 shares of company stock worth $18,511,525 in the last 90 days. 0.40% of the stock is currently owned by insiders.

Vertex Pharmaceuticals 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.