Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,747 shares of the pharmaceutical company’s stock after acquiring an additional 1,144 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $2,820,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. 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 worth $8,872,586,000 after purchasing an additional 3,824,103 shares during the period. Norges Bank acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $1,237,877,000. Public Employees Retirement Association of Colorado grew its stake in Vertex Pharmaceuticals by 2,272.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company’s stock worth $176,946,000 after buying an additional 416,545 shares during the period. abrdn plc raised its stake in shares of Vertex Pharmaceuticals by 196.0% in the 4th quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock valued at $236,410,000 after acquiring an additional 384,730 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $137,975,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of several research analyst reports. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price for the company in a research note on Thursday, April 11th. Piper Sandler increased their price target on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. HC Wainwright restated a “buy” rating and set a $462.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Canaccord Genuity Group reiterated a “sell” rating and issued a $371.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. Finally, UBS Group decreased their price objective on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $448.61.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX traded down $3.50 during midday trading on Wednesday, hitting $470.28. The company had a trading volume of 707,905 shares, compared to its average volume of 1,234,145. The firm has a fifty day simple moving average of $447.69 and a two-hundred day simple moving average of $427.70. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The stock has a market cap of $121.36 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 2.41 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $335.82 and a fifty-two week high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating the consensus estimate of $3.66 by $1.10. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.67 EPS. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total value of $1,075,521.60. Following the transaction, the chief marketing officer now directly owns 30,099 shares in the company, valued at $14,198,300.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The disclosure for this sale can be found here. Insiders have sold a total of 28,366 shares of company stock worth $13,058,787 over the last 90 days. Insiders own 0.20% of the company’s stock.

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 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.