Founders Financial Securities LLC Grows Stake in Vertex Pharmaceuticals Incorporated $VRTX

Founders Financial Securities LLC lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 154.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,942 shares of the pharmaceutical company’s stock after acquiring an additional 1,787 shares during the period. Founders Financial Securities LLC’s holdings in Vertex Pharmaceuticals were worth $1,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Activest Wealth Management acquired a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $25,000. Access Investment Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Flaharty Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth $32,000. Finally, Total Investment Management Inc. acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth $33,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.9%

Shares of VRTX stock opened at $463.50 on Thursday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68. The stock’s 50-day moving average price is $433.75 and its 200 day moving average price is $426.17. The stock has a market capitalization of $117.60 billion, a PE ratio of 32.69 and a beta of 0.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the business posted $4.38 EPS. The company’s revenue was up 11.0% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Charles F. Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total transaction of $6,384,000.00. Following the completion of the transaction, the executive vice president owned 37,725 shares in the company, valued at approximately $17,202,600. This represents a 27.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at $10,792,479.20. This trade represents a 72.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 151,073 shares of company stock worth $67,326,816 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on VRTX. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating for the company. JPMorgan Chase & Co. boosted their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. UBS Group upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, December 4th. Stifel Nicolaus cut their price target on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Finally, Leerink Partnrs upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $498.42.

About Vertex Pharmaceuticals

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.