Montis Financial LLC Acquires Shares of 2,199 Vertex Pharmaceuticals Incorporated $VRTX

Montis Financial LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 2,199 shares of the pharmaceutical company’s stock, valued at approximately $861,000.

Several other large investors have also recently modified their holdings of the stock. Costello Asset Management INC lifted its position in Vertex Pharmaceuticals by 3.6% in the second quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock worth $307,000 after buying an additional 24 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 1.9% in the 2nd quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock worth $570,000 after acquiring an additional 24 shares during the last quarter. Newman Dignan & Sheerar Inc. boosted its stake in shares of Vertex Pharmaceuticals by 3.3% during the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock worth $350,000 after purchasing an additional 25 shares during the period. Eastern Bank grew its holdings in Vertex Pharmaceuticals by 1.6% during the 2nd quarter. Eastern Bank now owns 1,635 shares of the pharmaceutical company’s stock valued at $728,000 after purchasing an additional 25 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its position in Vertex Pharmaceuticals by 8.4% in the 2nd quarter. Washington Trust Advisors Inc. now owns 323 shares of the pharmaceutical company’s stock worth $144,000 after purchasing an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 4,500 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the transaction, the executive vice president directly owned 42,293 shares in the company, valued at approximately $20,088,752.07. This trade represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles F. Wagner, Jr. sold 14,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 transaction, the executive vice president directly owned 37,725 shares in the company, valued at approximately $17,202,600. The trade was a 27.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 165,105 shares of company stock valued at $73,858,523. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VRTX. UBS Group began coverage on Vertex Pharmaceuticals in a research report on Tuesday, January 6th. They set a “buy” rating and a $535.00 target price for the company. Sanford C. Bernstein raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday. Morgan Stanley set a $564.00 price objective on Vertex Pharmaceuticals in a research report on Friday, December 5th. Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price on the stock in a research note on Tuesday, January 6th. Finally, Leerink Partners lifted their target price on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $503.80.

Vertex Pharmaceuticals Stock Down 2.4%

VRTX opened at $438.92 on Friday. The stock’s fifty day moving average is $445.95 and its two-hundred day moving average is $427.49. The company has a market capitalization of $111.36 billion, a P/E ratio of 30.95 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.38 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 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.