Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,159 shares of the pharmaceutical company’s stock after purchasing an additional 232 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $878,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VRTX. abrdn plc increased its stake in Vertex Pharmaceuticals by 196.0% in the fourth quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock valued at $236,410,000 after purchasing an additional 384,730 shares during the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $81,378,000. Jennison Associates LLC grew its position in shares of Vertex Pharmaceuticals by 3.9% in the 4th quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock valued at $1,605,146,000 after buying an additional 147,248 shares during the last quarter. Northern Trust Corp raised its stake in Vertex Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock worth $978,388,000 after acquiring an additional 131,539 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Vertex Pharmaceuticals by 21,750.1% in the fourth quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock valued at $46,853,000 after acquiring an additional 114,623 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wolfe Research assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, February 15th. They set an “outperform” rating and a $515.00 target price on the stock. Wells Fargo & Company increased their price objective on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Robert W. Baird cut shares of Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 target price on the stock. in a report on Wednesday, January 31st. Canaccord Genuity Group reissued a “sell” rating and set a $371.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. Finally, UBS Group reduced their target price on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $430.86.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded up $0.92 during trading hours on Friday, hitting $401.08. The stock had a trading volume of 1,064,066 shares, compared to its average volume of 1,004,237. The stock has a market capitalization of $103.66 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.89 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. Vertex Pharmaceuticals Incorporated has a 1-year low of $320.01 and a 1-year high of $448.40. The stock’s fifty day moving average is $409.06 and its two-hundred day moving average is $399.73.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm posted $3.33 EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CAO Kristen Ambrose sold 1,374 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $577,409.76. Following the completion of the transaction, the chief accounting officer now owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Kristen Ambrose sold 1,374 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $577,409.76. Following the completion of the transaction, the chief accounting officer now owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock worth $5,203,249 in the last ninety days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.