SVB Wealth LLC Sells 4,354 Shares of Vertex Pharmaceuticals Incorporated $VRTX

SVB Wealth LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 58.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,061 shares of the pharmaceutical company’s stock after selling 4,354 shares during the quarter. SVB Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $1,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $29,000. Colonial Trust Co SC grew its position in shares of Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Ares Financial Consulting LLC bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $33,000. Archer Investment Corp grew its position in shares of Vertex Pharmaceuticals by 89.7% during the 4th quarter. Archer Investment Corp now owns 74 shares of the pharmaceutical company’s stock worth $34,000 after buying an additional 35 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in shares of Vertex Pharmaceuticals by 54.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 77 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 27 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $435.17 on Tuesday. The stock has a market capitalization of $110.45 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 1.84 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92. The business has a fifty day moving average price of $448.49 and a 200 day moving average price of $449.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.24 by $0.23. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.06 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,329 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $481.79, for a total value of $1,122,088.91. Following the completion of the sale, the chief marketing officer directly owned 35,405 shares in the company, valued at approximately $17,057,774.95. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joy Liu sold 1,104 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares of the company’s stock, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 81,853 shares of company stock valued at $38,479,135 in the last 90 days. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VRTX shares. Canaccord Genuity Group dropped their price target on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research report on Tuesday, May 5th. Oppenheimer increased their price target on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Truist Financial upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Monday, April 27th. HC Wainwright upped their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings cut Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.17.

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.