Mirabella Financial Services LLP Has $2.10 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Mirabella Financial Services LLP boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 133.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,377 shares of the pharmaceutical company’s stock after buying an additional 3,078 shares during the quarter. Mirabella Financial Services LLP’s holdings in Vertex Pharmaceuticals were worth $2,102,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Hohimer Wealth Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock worth $945,000 after acquiring an additional 26 shares in the last quarter. Legacy Wealth Asset Management LLC grew 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 purchasing an additional 26 shares in the last quarter. Quent Capital LLC grew its stake 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 purchasing an additional 26 shares in the last quarter. Washington Trust Advisors Inc. increased its position in Vertex Pharmaceuticals by 8.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 26 shares during the last quarter. Finally, Defined Wealth Management LLC increased its position in Vertex Pharmaceuticals by 3.0% in the 3rd quarter. Defined Wealth Management LLC now owns 932 shares of the pharmaceutical company’s stock worth $365,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $466.10 on Tuesday. The business’s 50-day simple moving average is $470.37 and its 200-day simple moving average is $438.98. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $517.20. The firm has a market cap of $118.40 billion, a price-to-earnings ratio of 30.40, a P/E/G ratio of 2.00 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share 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 company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the firm posted $3.98 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the company a “hold” rating in a report on Friday, February 13th. Barclays increased their price objective on Vertex Pharmaceuticals from $606.00 to $607.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Royal Bank Of Canada cut their price objective on shares of Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Scotiabank lifted their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, UBS Group boosted their target price on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Twenty-three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $553.36.

Insiders Place Their Bets

In related news, EVP Amit Sachdev sold 1,846 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $897,802.10. Following the transaction, the executive vice president owned 55,570 shares in the company, valued at $27,026,469.50. This trade represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ourania Tatsis sold 260 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $126,451.00. Following the transaction, the executive vice president directly owned 46,763 shares of the company’s stock, valued at approximately $22,743,185.05. This represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 91,156 shares of company stock valued at $42,845,497 in the last three months. Company insiders own 0.20% of the company’s stock.

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.