Savvy Advisors Inc. Invests $302,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Savvy Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 622 shares of the pharmaceutical company’s stock, valued at approximately $302,000.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of Vertex Pharmaceuticals by 40.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 98,789 shares of the pharmaceutical company’s stock valued at $39,784,000 after purchasing an additional 28,240 shares during the period. Townsquare Capital LLC raised its holdings in shares of Vertex Pharmaceuticals by 13.8% in the 4th quarter. Townsquare Capital LLC now owns 17,127 shares of the pharmaceutical company’s stock valued at $6,897,000 after purchasing an additional 2,073 shares during the period. Sagespring Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $925,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Vertex Pharmaceuticals by 1.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 15,902 shares of the pharmaceutical company’s stock valued at $6,404,000 after purchasing an additional 162 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Down 2.4%

VRTX opened at $366.54 on Monday. The stock has a market cap of $93.98 billion, a price-to-earnings ratio of 26.20 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a twelve month low of $364.66 and a twelve month high of $519.88. The company’s 50-day moving average price is $450.77 and its two-hundred day moving average price is $465.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned ($12.83) earnings per share. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Stifel Nicolaus dropped their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Wolfe Research lowered Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 7th. Thirteen analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $497.10.

Vertex Pharmaceuticals 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.