Bowen Hanes & Co. Inc. Purchases 1,895 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Bowen Hanes & Co. Inc. raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,399 shares of the pharmaceutical company’s stock after purchasing an additional 1,895 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Vertex Pharmaceuticals were worth $60,461,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VRTX. Gibbs Wealth Management grew its position in Vertex Pharmaceuticals by 357.2% in the first quarter. Gibbs Wealth Management now owns 5,647 shares of the pharmaceutical company’s stock valued at $2,522,000 after acquiring an additional 4,412 shares during the last quarter. Keynote Financial Services LLC lifted its holdings in shares of Vertex Pharmaceuticals by 5.6% in the first quarter. Keynote Financial Services LLC now owns 1,231 shares of the pharmaceutical company’s stock worth $550,000 after acquiring an additional 65 shares during the last quarter. MWA Asset Management lifted its holdings in shares of Vertex Pharmaceuticals by 28.8% in the first quarter. MWA Asset Management now owns 4,143 shares of the pharmaceutical company’s stock worth $1,850,000 after acquiring an additional 927 shares during the last quarter. Alpha Family Trust boosted its stake in shares of Vertex Pharmaceuticals by 10.1% in the 1st quarter. Alpha Family Trust now owns 1,635 shares of the pharmaceutical company’s stock valued at $730,000 after purchasing an additional 150 shares in the last quarter. Finally, Aureus Asset Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 36.7% in the 1st quarter. Aureus Asset Management LLC now owns 8,395 shares of the pharmaceutical company’s stock valued at $3,749,000 after purchasing an additional 2,253 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VRTX shares. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Truist Financial raised their price objective on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada boosted their price objective on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $559.61.

Vertex Pharmaceuticals Trading Up 0.1%

NASDAQ VRTX opened at $473.09 on Friday. The firm has a market capitalization of $120.07 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 2.13 and a beta of 0.29. The business’s 50-day moving average price is $464.96 and its two-hundred day moving average price is $459.67. 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 data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period last year, the company earned $4.06 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the sale, the chief marketing officer owned 15,337 shares of the company’s stock, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 18,874 shares of company stock worth $8,707,966. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Profile

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.