Gradient Investments LLC Has $19.76 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Gradient Investments LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,595 shares of the pharmaceutical company’s stock after purchasing an additional 2,618 shares during the period. Gradient Investments LLC’s holdings in Vertex Pharmaceuticals were worth $19,764,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division increased its stake in shares of Vertex Pharmaceuticals by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock valued at $2,279,000 after purchasing an additional 24 shares during the last quarter. Hohimer Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock worth $945,000 after buying an additional 26 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in Vertex Pharmaceuticals by 1.8% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock valued at $565,000 after buying an additional 26 shares in the last quarter. Quent Capital LLC grew its position in Vertex Pharmaceuticals by 5.5% in the third quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock valued at $196,000 after acquiring an additional 26 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its position in Vertex Pharmaceuticals by 8.0% in the third quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock valued at $137,000 after acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VRTX shares. Stifel Nicolaus increased their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Jefferies Financial Group initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 10th. They set a “buy” rating and a $580.00 price target on the stock. HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Oppenheimer raised their target price on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Finally, Maxim Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price on the stock in a research note on Wednesday, March 18th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $554.30.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $454.04 on Monday. The business has a 50 day moving average of $469.17 and a 200-day moving average of $440.72. The company has a market capitalization of $115.34 billion, a P/E ratio of 29.62, a P/E/G ratio of 1.94 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $513.97.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the business earned $3.98 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Amit Sachdev sold 58,613 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $468.83, for a total value of $27,479,532.79. Following the completion of the sale, the executive vice president directly owned 58,934 shares in the company, valued at $27,630,027.22. This represents a 49.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles F. Wagner, Jr. sold 9,532 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $461.00, for a total value of $4,394,252.00. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $17,391,225. This represents a 20.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 93,485 shares of company stock worth $43,967,586. 0.20% of the stock is currently owned by insiders.

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.