Calamos Wealth Management LLC Has $819,000 Stake in Vertex Pharmaceuticals Incorporated $VRTX

Calamos Wealth Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 183.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,834 shares of the pharmaceutical company’s stock after acquiring an additional 1,186 shares during the quarter. Calamos Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $819,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VRTX. Capital Research Global Investors raised its holdings in shares of Vertex Pharmaceuticals by 4.6% during the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after acquiring an additional 763,063 shares during the period. State Street Corp increased its holdings in Vertex Pharmaceuticals by 0.7% during the 4th quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock worth $5,299,569,000 after purchasing an additional 83,539 shares in the last quarter. Capital International Investors raised its stake in shares of Vertex Pharmaceuticals by 0.9% in the 4th quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock valued at $2,146,041,000 after purchasing an additional 44,537 shares during the period. Victory Capital Management Inc. raised its stake in shares of Vertex Pharmaceuticals by 49.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock valued at $1,521,851,000 after purchasing an additional 1,109,200 shares during the period. Finally, Norges Bank bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $1,440,149,000. Institutional investors own 90.96% of the company’s stock.

Insider Activity

In other news, Director Sangeeta N. Bhatia sold 318 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of Vertex Pharmaceuticals stock in a transaction on Friday, May 1st. The stock was sold at an average price of $425.02, for a total transaction of $469,222.08. Following the transaction, the executive vice president owned 20,729 shares in the company, valued at approximately $8,810,239.58. This trade represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 18,874 shares of company stock valued at $8,707,966. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VRTX shares. Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Royal Bank Of Canada raised their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Weiss Ratings downgraded shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. Truist Financial boosted their price objective on shares of Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Twenty-one research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $559.61.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $476.31 on Wednesday. The firm has a market cap of $120.89 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 2.05 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $533.67. The business’s fifty day moving average is $459.21 and its 200-day moving average is $458.56.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $4.06 earnings per share. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.03 EPS for the current fiscal year.

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.