Regal Investment Advisors LLC Raises Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Regal Investment Advisors LLC grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 70.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,932 shares of the pharmaceutical company’s stock after purchasing an additional 797 shares during the period. Regal Investment Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $786,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VRTX. Capital World Investors raised its holdings in shares of Vertex Pharmaceuticals by 21.3% in the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after acquiring an additional 3,824,103 shares in the last quarter. Norges Bank purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $1,237,877,000. Public Employees Retirement Association of Colorado raised its position in shares of Vertex Pharmaceuticals by 2,272.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company’s stock valued at $176,946,000 after buying an additional 416,545 shares in the last quarter. abrdn plc lifted its holdings in shares of Vertex Pharmaceuticals by 196.0% during the 4th quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock worth $236,410,000 after acquiring an additional 384,730 shares during the last quarter. Finally, BSN CAPITAL PARTNERS Ltd bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at $81,378,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on VRTX shares. Piper Sandler raised their price objective on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $424.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, June 4th. Guggenheim increased their target price on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 18th. UBS Group cut their price target on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $438.62.

Read Our Latest Analysis on VRTX

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $483.28 on Tuesday. Vertex Pharmaceuticals Incorporated has a one year low of $331.87 and a one year high of $486.42. The business has a fifty day moving average of $424.38 and a 200 day moving average of $415.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. The firm has a market capitalization of $124.71 billion, a P/E ratio of 31.36, a PEG ratio of 2.48 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the business earned $2.67 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.22 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $17,920,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total value of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Reshma Kewalramani sold 1,565 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the sale, the chief executive officer now owns 121,374 shares in the company, valued at approximately $55,467,918. The disclosure for this sale can be found here. Insiders sold a total of 16,518 shares of company stock worth $7,409,762 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

About Vertex Pharmaceuticals

(Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

Further Reading

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

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