15,789 Shares in Vertex Pharmaceuticals Incorporated $VRTX Acquired by Callan Family Office LLC

Callan Family Office LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 15,789 shares of the pharmaceutical company’s stock, valued at approximately $7,843,000.

Several other large investors also recently added to or reduced their stakes in the company. Shelter Mutual Insurance Co purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at $13,710,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $278,000. Green Alpha Advisors LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $274,000. OneAscent Family Office LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $270,000. Finally, OneAscent Financial Services LLC acquired a new position in Vertex Pharmaceuticals during the second quarter valued at $211,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on VRTX. Truist Financial increased their price objective on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. UBS Group lifted their target price on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wall Street Zen downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Royal Bank Of Canada increased their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, TD Cowen raised their price target on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $563.50.

Insider Buying and Selling

In other news, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the transaction, the executive vice president owned 11,001 shares of the company’s stock, valued at $5,709,519. This trade represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the sale, the chief marketing officer owned 15,337 shares of the company’s stock, valued at $7,400,102.50. The trade was a 3.74% 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. In the last ninety days, insiders sold 10,464 shares of company stock worth $4,959,397. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $548.05 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $555.32. The stock’s 50-day moving average is $492.65 and its two-hundred day moving average is $465.92. The firm has a market cap of $139.10 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 2.24 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.52 EPS. On average, equities 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.