Mayflower Financial Advisors LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 69.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 950,643 shares of the pharmaceutical company’s stock after acquiring an additional 390,581 shares during the quarter. Mayflower Financial Advisors LLC owned approximately 0.37% of Vertex Pharmaceuticals worth $1,118,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Concord Wealth Partners grew its holdings in shares of Vertex Pharmaceuticals by 750.0% during the fourth quarter. Concord Wealth Partners now owns 119 shares of the pharmaceutical company’s stock worth $26,000 after buying an additional 105 shares in the last quarter. First PREMIER Bank acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $27,000. Moors & Cabot Inc. acquired a new position in Vertex Pharmaceuticals in the third quarter valued at about $29,000. JJJ Advisors Inc. lifted its position in shares of Vertex Pharmaceuticals by 101.5% during the fourth quarter. JJJ Advisors Inc. now owns 133 shares of the pharmaceutical company’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Finally, Trustcore Financial Services LLC lifted its position in shares of Vertex Pharmaceuticals by 53.8% during the fourth quarter. Trustcore Financial Services LLC now owns 143 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 50 shares in the last quarter. 89.84% of the stock is owned by institutional investors.
Vertex Pharmaceuticals stock opened at $287.32 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $176.36 and a one year high of $293.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.60 and a current ratio of 4.75. The business has a fifty day moving average of $264.83 and a two hundred day moving average of $249.90. The company has a market cap of $73.48 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.49.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last released its earnings results on Thursday, May 5th. The pharmaceutical company reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.01). Vertex Pharmaceuticals had a net margin of 30.84% and a return on equity of 32.24%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business posted $2.54 EPS. Vertex Pharmaceuticals’s revenue was up 21.6% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 12.47 EPS for the current year.
A number of analysts recently weighed in on VRTX shares. StockNews.com started coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Cowen raised their target price on shares of Vertex Pharmaceuticals from $305.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, June 13th. SVB Leerink began coverage on shares of Vertex Pharmaceuticals in a research note on Monday, May 23rd. They issued a “market perform” rating and a $265.00 price target on the stock. Piper Sandler dropped their price target on shares of Vertex Pharmaceuticals from $249.00 to $242.00 in a research note on Friday, May 6th. Finally, Morgan Stanley upgraded shares of Vertex Pharmaceuticals from an “underweight” rating to an “equal weight” rating and set a $250.00 price target on the stock in a research note on Tuesday, May 3rd. Six investment 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 stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $282.61.
In related news, CEO Reshma Kewalramani sold 11,689 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $291.30, for a total transaction of $3,405,005.70. Following the completion of the sale, the chief executive officer now owns 111,153 shares in the company, valued at approximately $32,378,868.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bastiano Sanna sold 562 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $267.71, for a total value of $150,453.02. Following the sale, the executive vice president now owns 43,343 shares of the company’s stock, valued at approximately $11,603,354.53. The disclosure for this sale can be found here. Insiders have sold a total of 40,790 shares of company stock valued at $11,637,690 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.
About Vertex Pharmaceuticals: (Get Rating)
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.
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