750 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Arete Wealth Advisors LLC

Posted by Defense World Staff on Jul 24th, 2023

Arete Wealth Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 750 shares of the pharmaceutical company’s stock, valued at approximately $236,303,000,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Vertex Pharmaceuticals by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,382,719 shares of the pharmaceutical company’s stock worth $1,551,946,000 after purchasing an additional 111,052 shares during the last quarter. Jennison Associates LLC raised its holdings in Vertex Pharmaceuticals by 7.6% during the 4th quarter. Jennison Associates LLC now owns 5,115,540 shares of the pharmaceutical company’s stock worth $1,477,266,000 after purchasing an additional 359,719 shares during the last quarter. Morgan Stanley raised its holdings in Vertex Pharmaceuticals by 33.1% during the 4th quarter. Morgan Stanley now owns 2,578,444 shares of the pharmaceutical company’s stock worth $744,603,000 after purchasing an additional 640,899 shares during the last quarter. Norges Bank bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $707,950,000. Finally, Renaissance Technologies LLC increased its stake in shares of Vertex Pharmaceuticals by 5.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,246,752 shares of the pharmaceutical company’s stock valued at $648,817,000 after acquiring an additional 107,867 shares during the last quarter. 91.37% of the stock is owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 11,250 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 17th. The shares were sold at an average price of $356.75, for a total transaction of $4,013,437.50. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $14,270,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Bruce I. Sachs sold 11,250 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 17th. The stock was sold at an average price of $356.75, for a total transaction of $4,013,437.50. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $14,270,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reshma Kewalramani sold 3,317 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $339.08, for a total value of $1,124,728.36. Following the sale, the chief executive officer now directly owns 126,652 shares of the company’s stock, valued at approximately $42,945,160.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,297 shares of company stock valued at $15,914,580. 0.30% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Up 0.2 %

NASDAQ VRTX opened at $362.46 on Monday. The company has a market cap of $93.35 billion, a PE ratio of 28.86, a PEG ratio of 3.01 and a beta of 0.51. The company has a current ratio of 4.28, a quick ratio of 4.11 and a debt-to-equity ratio of 0.03. Vertex Pharmaceuticals Incorporated has a 12 month low of $271.61 and a 12 month high of $367.00. The stock has a 50 day moving average of $342.70 and a 200-day moving average of $322.31.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings data on Monday, May 1st. The pharmaceutical company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.51 by $0.54. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.34 billion. Vertex Pharmaceuticals had a return on equity of 25.06% and a net margin of 35.40%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.16 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 13.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRTX. Sanford C. Bernstein upped their price target on Vertex Pharmaceuticals from $344.00 to $363.00 in a research note on Wednesday, May 3rd. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 14th. Guggenheim upped their price target on Vertex Pharmaceuticals from $339.00 to $385.00 in a research note on Tuesday, May 2nd. Truist Financial increased their target price on Vertex Pharmaceuticals from $341.00 to $456.00 in a research note on Tuesday, May 2nd. Finally, HC Wainwright increased their target price on Vertex Pharmaceuticals from $326.00 to $380.00 in a research note on Tuesday, May 2nd. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $359.00.

About Vertex Pharmaceuticals

(Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.