Annapolis Financial Services LLC Makes New $27,000 Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 64 shares of the pharmaceutical company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Capital World Investors raised its holdings in shares of Vertex Pharmaceuticals by 21.3% in the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after purchasing an additional 3,824,103 shares during the period. Norges Bank bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $1,237,877,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Vertex Pharmaceuticals by 2,272.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company’s stock valued at $176,946,000 after purchasing an additional 416,545 shares during the period. abrdn plc raised its holdings in shares of Vertex Pharmaceuticals by 196.0% in the 4th quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock valued at $236,410,000 after purchasing an additional 384,730 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $137,975,000. 90.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VRTX. Redburn Atlantic began coverage on shares of Vertex Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $545.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $462.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Royal Bank of Canada decreased their price target on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 11th. Finally, Piper Sandler upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $448.61.

Insider Buying and Selling

In related news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the completion of the transaction, the chief executive officer now owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the completion of the transaction, the chief executive officer now owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,366 shares of company stock worth $13,058,787. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $3.79 during trading hours on Friday, hitting $468.72. 3,234,634 shares of the stock were exchanged, compared to its average volume of 1,247,780. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The company has a market cap of $120.95 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.41. The company’s fifty day simple moving average is $444.89 and its two-hundred day simple moving average is $426.64. Vertex Pharmaceuticals Incorporated has a 1-year low of $335.82 and a 1-year high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $2.67 EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.22 EPS for the current year.

About Vertex Pharmaceuticals

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.