2,440 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,440 shares of the pharmaceutical company’s stock, valued at approximately $956,000.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after buying an additional 579 shares in the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Vertex Pharmaceuticals by 735.4% in the second quarter. Atlantic Union Bankshares Corp now owns 8,947 shares of the pharmaceutical company’s stock valued at $3,983,000 after buying an additional 7,876 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 169.5% in the second quarter. Golden State Wealth Management LLC now owns 256 shares of the pharmaceutical company’s stock valued at $114,000 after buying an additional 161 shares in the last quarter. Souders Financial Advisors lifted its position in shares of Vertex Pharmaceuticals by 20.4% during the 2nd quarter. Souders Financial Advisors now owns 1,309 shares of the pharmaceutical company’s stock valued at $583,000 after acquiring an additional 222 shares during the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in shares of Vertex Pharmaceuticals by 6.9% during the 2nd quarter. Malaga Cove Capital LLC now owns 1,912 shares of the pharmaceutical company’s stock worth $851,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.9%

VRTX opened at $456.69 on Friday. The firm has a market capitalization of $116.01 billion, a P/E ratio of 29.79 and a beta of 0.31. The stock has a fifty day moving average of $467.48 and a 200-day moving average of $434.75. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.98 EPS. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other news, EVP Charles F. Wagner, Jr. sold 9,532 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $461.00, for a total value of $4,394,252.00. Following the transaction, the executive vice president owned 37,725 shares in the company, valued at $17,391,225. This represents a 20.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark E. Bunnage sold 2,021 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total transaction of $930,529.03. Following the sale, the executive vice president owned 12,914 shares of the company’s stock, valued at approximately $5,945,993.02. This represents a 13.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 91,156 shares of company stock worth $42,845,497. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on VRTX shares. Stifel Nicolaus lifted their target price on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Wolfe Research raised Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price for the company in a report on Tuesday, January 6th. Evercore lifted their price target on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Royal Bank Of Canada cut their price objective on Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Finally, Wells Fargo & Company upped their price objective on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $542.00.

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.