Concord Wealth Partners Acquires 400 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Concord Wealth Partners increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 52.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,156 shares of the pharmaceutical company’s stock after purchasing an additional 400 shares during the period. Concord Wealth Partners’ holdings in Vertex Pharmaceuticals were worth $470,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its holdings in Vertex Pharmaceuticals by 1.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock valued at $933,000 after acquiring an additional 24 shares during the period. Nicholas Hoffman & Company LLC. boosted its holdings in Vertex Pharmaceuticals by 3.9% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock valued at $259,000 after acquiring an additional 24 shares during the period. Arthur M. Cohen & Associates LLC boosted its holdings in Vertex Pharmaceuticals by 3.2% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock valued at $326,000 after acquiring an additional 25 shares during the period. Baystate Wealth Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 49.0% in the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 25 shares during the period. Finally, Arjuna Capital lifted its stake in shares of Vertex Pharmaceuticals by 0.7% in the third quarter. Arjuna Capital now owns 4,375 shares of the pharmaceutical company’s stock valued at $1,521,000 after buying an additional 29 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VRTX. UBS Group reduced their target price on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Oppenheimer reiterated an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $440.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Truist Financial increased their target price on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Guggenheim increased their price target on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $429.45.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the sale, the executive vice president now owns 74,364 shares of the company’s stock, valued at approximately $31,250,727.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the transaction, the executive vice president now directly owns 74,364 shares in the company, valued at approximately $31,250,727.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Stuart A. Arbuckle sold 4,295 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the transaction, the chief operating officer now owns 75,718 shares of the company’s stock, valued at $31,819,732.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,381 shares of company stock valued at $5,203,249. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $402.14 on Thursday. The company’s 50 day simple moving average is $410.17 and its 200-day simple moving average is $399.54. Vertex Pharmaceuticals Incorporated has a one year low of $320.01 and a one year high of $448.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. The stock has a market capitalization of $103.94 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 1.85 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $3.33 EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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.