NBC Securities Inc. Acquires Shares of 99 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

NBC Securities Inc. acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) during the third quarter, HoldingsChannel reports. The institutional investor acquired 99 shares of the pharmaceutical company’s stock, valued at approximately $34,000.

Other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. ST Germain D J Co. Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $26,000. Marquette Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $27,000. Compass Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at approximately $33,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VRTX. Canaccord Genuity Group restated a “sell” rating and issued a $379.00 target price (up previously from $332.00) on shares of Vertex Pharmaceuticals in a research note on Wednesday, January 24th. Truist Financial lifted their price objective on Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. HC Wainwright lifted their price objective on Vertex Pharmaceuticals from $397.00 to $457.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets lifted their price objective on Vertex Pharmaceuticals from $389.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, November 7th. Finally, Wells Fargo & Company lifted their price objective on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the company an “overweight” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $403.79.

Get Our Latest Research Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ:VRTX opened at $419.08 on Thursday. Vertex Pharmaceuticals Incorporated has a 52-week low of $283.60 and a 52-week high of $448.40. The stock has a market cap of $107.99 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.40 and a beta of 0.36. The business’s 50 day moving average is $408.45 and its 200 day moving average is $373.91. The company has a quick ratio of 3.89, a current ratio of 4.08 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last posted its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 22.65% and a net margin of 36.68%. During the same quarter in the prior year, the business earned $3.33 earnings per share. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.18 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Jeffrey M. Leiden sold 6,648 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the completion of the sale, the chairman now owns 2,423 shares in the company, valued at approximately $1,015,406.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by company insiders.

Vertex Pharmaceuticals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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