Broderick Brian C Grows Position in Vertex Pharmaceuticals Incorporated $VRTX

Broderick Brian C raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 18,656 shares of the pharmaceutical company’s stock after purchasing an additional 1,454 shares during the period. Vertex Pharmaceuticals accounts for 1.5% of Broderick Brian C’s holdings, making the stock its 24th biggest position. Broderick Brian C’s holdings in Vertex Pharmaceuticals were worth $8,331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Earned Wealth Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 3.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after buying an additional 21 shares during the period. Confluence Wealth Services Inc. grew its stake in shares of Vertex Pharmaceuticals by 4.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after acquiring an additional 21 shares during the period. Williams Jones Wealth Management LLC. increased its holdings in Vertex Pharmaceuticals by 1.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after acquiring an additional 21 shares in the last quarter. Childress Capital Advisors LLC increased its holdings in Vertex Pharmaceuticals by 3.1% in the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock worth $331,000 after acquiring an additional 22 shares in the last quarter. Finally, Glenview Trust Co raised its stake in Vertex Pharmaceuticals by 0.3% during the 4th quarter. Glenview Trust Co now owns 7,005 shares of the pharmaceutical company’s stock worth $3,176,000 after acquiring an additional 24 shares during the period. Hedge funds and other 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 on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the transaction, the director owned 4,924 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the transaction, the executive vice president owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 18,874 shares of company stock valued at $8,707,966. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Sanford C. Bernstein lowered their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. UBS Group increased their price objective on shares of Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Morgan Stanley raised their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Canaccord Genuity Group lowered their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Twenty-two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $559.61.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $485.65 on Monday. The business’s 50 day moving average is $462.54 and its 200 day moving average is $459.00. The company has a market capitalization of $123.26 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm earned $4.06 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.