Congress Wealth Management LLC DE increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 12.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 743 shares of the pharmaceutical company’s stock after buying an additional 80 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Vertex Pharmaceuticals were worth $262,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its position in Vertex Pharmaceuticals by 145.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,359 shares of the pharmaceutical company’s stock valued at $681,000 after purchasing an additional 1,399 shares during the period. Schechter Investment Advisors LLC raised its position in Vertex Pharmaceuticals by 21.9% in the first quarter. Schechter Investment Advisors LLC now owns 1,451 shares of the pharmaceutical company’s stock valued at $457,000 after purchasing an additional 261 shares during the period. Chiron Investment Management LLC raised its position in Vertex Pharmaceuticals by 7,959.3% in the first quarter. Chiron Investment Management LLC now owns 9,510 shares of the pharmaceutical company’s stock valued at $2,996,000 after purchasing an additional 9,392 shares during the period. Davis Investment Partners LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $1,266,000. Finally, Penserra Capital Management LLC raised its position in Vertex Pharmaceuticals by 1,460.4% in the first quarter. Penserra Capital Management LLC now owns 2,091 shares of the pharmaceutical company’s stock valued at $657,000 after purchasing an additional 1,957 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.
Vertex Pharmaceuticals Trading Down 1.3 %
NASDAQ:VRTX opened at $349.53 on Friday. The stock has a 50-day simple moving average of $350.36 and a 200-day simple moving average of $337.34. The stock has a market cap of $90.21 billion, a P/E ratio of 26.99, a P/E/G ratio of 2.61 and a beta of 0.51. Vertex Pharmaceuticals Incorporated has a 1 year low of $276.57 and a 1 year high of $367.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.96 and a current ratio of 4.14.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. 888 restated a “reiterates” rating on shares of Vertex Pharmaceuticals in a research report on Monday, June 26th. HC Wainwright reiterated a “buy” rating and issued a $380.00 price objective on shares of Vertex Pharmaceuticals in a report on Wednesday, August 2nd. Wells Fargo & Company boosted their price objective on Vertex Pharmaceuticals from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Bank of America boosted their price objective on Vertex Pharmaceuticals from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $410.00 price objective on shares of Vertex Pharmaceuticals in a report on Wednesday, August 2nd. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $367.04.
Insider Activity
In other news, CMO Carmen Bozic sold 5,651 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $351.00, for a total value of $1,983,501.00. Following the completion of the sale, the chief marketing officer now directly owns 51,905 shares of the company’s stock, valued at approximately $18,218,655. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 5,651 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $351.00, for a total transaction of $1,983,501.00. Following the completion of the sale, the chief marketing officer now directly owns 51,905 shares of the company’s stock, valued at approximately $18,218,655. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sangeeta N. Bhatia sold 242 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $345.51, for a total value of $83,613.42. Following the sale, the director now directly owns 4,386 shares of the company’s stock, valued at $1,515,406.86. The disclosure for this sale can be found here. In the last three months, insiders sold 27,534 shares of company stock valued at $9,768,759. Insiders own 0.40% of the company’s stock.
About Vertex Pharmaceuticals
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.
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