D.A. Davidson & CO. Purchases 2,240 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Posted by on Apr 28th, 2023

D.A. Davidson & CO. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) by 106.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,341 shares of the pharmaceutical company’s stock after purchasing an additional 2,240 shares during the period. D.A. Davidson & CO.’s holdings in Vertex Pharmaceuticals were worth $1,254,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Old North State Trust LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth $29,000. SJS Investment Consulting Inc. increased its position in shares of Vertex Pharmaceuticals by 61.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 102 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 39 shares during the last quarter. American National Bank increased its position in shares of Vertex Pharmaceuticals by 94.7% during the 4th quarter. American National Bank now owns 111 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 54 shares during the last quarter. First Personal Financial Services purchased a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $36,000. Finally, RFP Financial Group LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $39,000. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VRTX. Sanford C. Bernstein began coverage on Vertex Pharmaceuticals in a research report on Tuesday, March 21st. They set an “outperform” rating and a $344.00 target price for the company. HC Wainwright raised their target price on Vertex Pharmaceuticals from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. SVB Leerink decreased their target price on Vertex Pharmaceuticals from $374.00 to $365.00 and set an “outperform” rating for the company in a research report on Wednesday, February 8th. Barclays raised their target price on Vertex Pharmaceuticals from $313.00 to $342.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Finally, SVB Securities decreased their price objective on Vertex Pharmaceuticals from $374.00 to $365.00 in a report on Wednesday, February 8th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $327.42.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $339.37 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.83 and a quick ratio of 4.66. Vertex Pharmaceuticals Incorporated has a one year low of $233.01 and a one year high of $340.22. The stock has a market capitalization of $87.25 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.88 and a beta of 0.49. The business’s 50 day simple moving average is $307.24 and its two-hundred day simple moving average is $305.30.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last posted its earnings results on Tuesday, February 7th. The pharmaceutical company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.65. Vertex Pharmaceuticals had a return on equity of 27.78% and a net margin of 37.20%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm earned $3.18 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 12.17 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

In related news, COO Stuart A. Arbuckle sold 4,887 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $298.92, for a total transaction of $1,460,822.04. Following the sale, the chief operating officer now directly owns 82,003 shares in the company, valued at $24,512,336.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,887 shares of the business’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $298.92, for a total value of $1,460,822.04. Following the sale, the chief operating officer now directly owns 82,003 shares of the company’s stock, valued at $24,512,336.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ourania Tatsis sold 275 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $298.99, for a total value of $82,222.25. Following the transaction, the executive vice president now directly owns 65,765 shares in the company, valued at $19,663,077.35. The disclosure for this sale can be found here. Insiders have sold 58,819 shares of company stock worth $18,352,633 over the last ninety days. 0.40% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Company Profile

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Vertex Pharmaceuticals, Inc is a global biotechnology company, which engages in the business of discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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