Roman Butler Fullerton & Co. Purchases New Stake in Vertex Pharmaceuticals Incorporated $VRTX

Roman Butler Fullerton & Co. purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,632 shares of the pharmaceutical company’s stock, valued at approximately $784,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Community Financial Services Group LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $26,000. Motiv8 Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $26,000. Elevation Wealth Partners LLC boosted its holdings in shares of Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 28 shares during the period. Swiss RE Ltd. acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $28,000. Finally, IMG Wealth Management Inc. grew its stake in Vertex Pharmaceuticals by 277.8% in the 4th 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 during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $505.75 on Monday. The business has a fifty day simple moving average of $483.26 and a 200 day simple moving average of $463.67. The company has a market cap of $128.36 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.09 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a twelve month low of $374.17 and a twelve month high of $546.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.52 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $482.50, for a total transaction of $287,570.00. Following the sale, the chief marketing officer directly 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 position. The sale was disclosed in a document filed with the SEC, which is available 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 company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was 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. This represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 10,464 shares of company stock worth $4,959,397. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VRTX. Truist Financial raised their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Barclays upped their target price on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. Cantor Fitzgerald boosted their price target on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada boosted their target price on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $563.50.

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.