Wealth Alliance Invests $214,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wealth Alliance acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 526 shares of the pharmaceutical company’s stock, valued at approximately $214,000.

Other hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC lifted its stake in Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares during the period. Fortitude Family Office LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $30,000. Baystate Wealth Management LLC lifted its stake in Vertex Pharmaceuticals by 49.0% in the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 25 shares during the period. OFI Invest Asset Management purchased a new stake in Vertex Pharmaceuticals in the third quarter worth about $25,000. Finally, Cornerstone Planning Group LLC purchased a new stake in Vertex Pharmaceuticals in the second quarter worth about $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Sanford C. Bernstein lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Friday, February 2nd. Truist Financial increased their price target on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Oppenheimer reissued an “outperform” rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. JPMorgan Chase & Co. increased their price target on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, HC Wainwright increased their price target on shares of Vertex Pharmaceuticals from $457.00 to $462.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $429.45.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $394.28 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $316.43 and a 12-month high of $448.40. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $101.91 billion, a PE ratio of 28.39, a P/E/G ratio of 1.85 and a beta of 0.35. The firm has a 50 day moving average of $413.60 and a two-hundred day moving average of $397.06.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm posted $3.33 EPS. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current year.

Insider Activity

In other news, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the transaction, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Kristen Ambrose sold 1,374 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $577,409.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,676 shares of the company’s stock, valued at approximately $4,066,242.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ourania Tatsis sold 354 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The disclosure for this sale can be found here. Insiders sold a total of 12,381 shares of company stock valued at $5,203,249 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Company 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.