Venturi Wealth Management LLC Has $2.46 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Venturi Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 141.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,112 shares of the pharmaceutical company’s stock after purchasing an additional 3,580 shares during the quarter. Venturi Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,461,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of VRTX. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $27,000. Dunhill Financial LLC boosted its holdings in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Finally, Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals during the third quarter worth $33,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $459.00 on Tuesday. The stock has a fifty day moving average of $435.69 and a 200-day moving average of $460.99. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.94 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of research analyst reports. Bank of America cut their price objective on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the company from $500.00 to $550.00 in a research note on Monday, December 9th. Piper Sandler lowered their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target for the company. in a research report on Thursday, January 30th. Finally, UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $505.57.

Vertex Pharmaceuticals 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.