Welch & Forbes LLC Purchases 1,471 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Welch & Forbes LLC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 219,669 shares of the pharmaceutical company’s stock after purchasing an additional 1,471 shares during the period. Vertex Pharmaceuticals comprises about 1.3% of Welch & Forbes LLC’s portfolio, making the stock its 22nd largest holding. Welch & Forbes LLC’s holdings in Vertex Pharmaceuticals were worth $98,091,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRTX. Motiv8 Investments LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $26,000. Swiss RE Ltd. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $28,000. Eagle Bay Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $29,000. IMG Wealth Management Inc. lifted its stake in shares of Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after buying an additional 50 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $33,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $11.11 during midday trading on Friday, reaching $485.39. The company’s stock had a trading volume of 1,430,186 shares, compared to its average volume of 1,935,645. The stock has a market capitalization of $123.19 billion, a P/E ratio of 28.79, a PEG ratio of 2.07 and a beta of 0.29. The firm has a 50 day moving average price of $457.12 and a 200-day moving average price of $458.33. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.Vertex Pharmaceuticals’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $4.06 earnings per share. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 17.07 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on VRTX. Sanford C. Bernstein lowered their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Royal Bank Of Canada lifted their price target on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Truist Financial initiated coverage on Vertex Pharmaceuticals in a report on Wednesday, May 27th. They set a “buy” rating and a $542.00 price objective for the company. Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Canaccord Genuity Group dropped their target price on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a report on Tuesday, May 5th. Twenty-one research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $557.09.

More Vertex Pharmaceuticals News

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex’s $10 billion acquisition of Crinetics is being seen as a major expansion move that could add future growth drivers beyond its core cystic fibrosis business. Article Title
• Positive Sentiment: Investors continue to highlight Vertex as a strong long-term compounder, with articles pointing to its decade-long stock performance and durable earnings power. Article Title
• Positive Sentiment: Coverage on Vertex as one of the best QQQ stocks emphasized the July 1 FDA expansion for CASGEVY, which strengthened the company’s gene-therapy growth story. Article Title
• Positive Sentiment: Additional biotech commentary has kept Vertex in focus as one of the sector’s more attractive names, reinforcing investor interest in the stock. Article Title
• Neutral Sentiment: Short-interest data was reported at zero shares, which does not provide a meaningful trading signal and is unlikely to move the stock on its own.
• Neutral Sentiment: Several other biotech articles mentioned Vertex only in passing or as part of broader sector coverage, with limited direct impact on VRTX.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Joy Liu sold 1,104 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the transaction, the executive vice president directly owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. The trade was a 5.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the transaction, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. The trade was a 12.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 18,874 shares of company stock worth $8,707,966. 0.20% of the stock is owned by company insiders.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.