Nwam LLC Acquires 1,294 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Nwam LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 25.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,332 shares of the pharmaceutical company’s stock after buying an additional 1,294 shares during the quarter. Nwam LLC’s holdings in Vertex Pharmaceuticals were worth $2,827,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Motiv8 Investments LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $26,000. Swiss RE Ltd. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth $28,000. Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $29,000. IMG Wealth Management Inc. increased its stake in Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $33,000. Institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Duncan Mckechnie sold 1,541 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the sale, the executive vice president owned 11,001 shares in the company, valued at approximately $5,709,519. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director directly owned 4,924 shares of the company’s stock, valued at $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 18,874 shares of company stock valued at $8,707,966. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $477.08 on Thursday. The company has a 50-day moving average price of $460.20 and a 200-day moving average price of $458.65. The stock has a market capitalization of $121.09 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.07 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.06 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VRTX. Sanford C. Bernstein cut their price objective on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. 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 note on Tuesday, May 5th. Truist Financial increased their price target on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a “buy” rating in a report on Monday. Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price objective for the company in a research note on Wednesday, March 18th. Finally, UBS Group boosted their price objective on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a report on Monday. Twenty-one equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $559.61.

Vertex Pharmaceuticals Company 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.