1,083 Shares in Vertex Pharmaceuticals Incorporated $VRTX Bought by Evolve Private Wealth LLC

Evolve Private Wealth LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,083 shares of the pharmaceutical company’s stock, valued at approximately $538,000.

Several other institutional investors have also recently added to or reduced their stakes in VRTX. Allworth Financial LP boosted its position in Vertex Pharmaceuticals by 414.1% during the 4th quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company’s stock valued at $6,363,000 after purchasing an additional 11,306 shares during the period. Calamos Advisors LLC increased its position in Vertex Pharmaceuticals by 77.1% in the first quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company’s stock worth $34,779,000 after buying an additional 33,917 shares during the period. Sandro Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth $1,436,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Vertex Pharmaceuticals by 11.9% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company’s stock valued at $15,625,000 after buying an additional 3,710 shares during the last quarter. Finally, Meiji Yasuda America Inc bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $1,911,000. Institutional investors own 90.96% of the company’s stock.

Insider Activity

In related news, EVP Ourania Tatsis sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the transaction, the executive vice president owned 45,321 shares of the company’s stock, valued at $23,793,071.79. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the transaction, the chief marketing officer directly owned 15,337 shares in the company, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,464 shares of company stock worth $4,959,397 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Finally, UBS Group upped their target price on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $563.50.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $547.59 on Tuesday. The stock has a market cap of $138.98 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.27 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $374.17 and a 12 month high of $555.32. The stock’s 50 day moving average price is $494.60 and its 200 day moving average price is $466.46.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the business posted $4.52 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

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.