Janney Montgomery Scott LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Janney Montgomery Scott LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,324 shares of the pharmaceutical company’s stock after purchasing an additional 13,971 shares during the period. Janney Montgomery Scott LLC’s holdings in Vertex Pharmaceuticals were worth $37,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boomfish Wealth Group LLC raised its stake in shares of Vertex Pharmaceuticals by 0.8% during the 1st quarter. Boomfish Wealth Group LLC now owns 6,463 shares of the pharmaceutical company’s stock worth $2,886,000 after buying an additional 53 shares during the period. AGH Wealth Advisors LLC grew its stake in Vertex Pharmaceuticals by 4.0% in the 1st quarter. AGH Wealth Advisors LLC now owns 1,046 shares of the pharmaceutical company’s stock valued at $467,000 after acquiring an additional 40 shares during the period. Cornerstone Wealth Group LLC increased its holdings in Vertex Pharmaceuticals by 22.0% in the 1st quarter. Cornerstone Wealth Group LLC now owns 565 shares of the pharmaceutical company’s stock worth $247,000 after acquiring an additional 102 shares in the last quarter. Cambient Family Office LLC increased its holdings in Vertex Pharmaceuticals by 21.1% in the 1st quarter. Cambient Family Office LLC now owns 705 shares of the pharmaceutical company’s stock worth $315,000 after acquiring an additional 123 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its position in Vertex Pharmaceuticals by 12.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 874 shares of the pharmaceutical company’s stock worth $390,000 after acquiring an additional 94 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction that occurred 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 directly owned 4,924 shares of the company’s stock, valued at $2,086,446.52. This trade represents a 6.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the transaction, the chief marketing officer owned 26,088 shares in the company, valued at approximately $11,739,600. This represents a 21.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 16,215 shares of company stock worth $7,272,420. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $491.34 on Monday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92. The stock’s fifty day moving average is $442.17 and its two-hundred day moving average is $454.24. The firm has a market capitalization of $124.70 billion, a P/E ratio of 29.14, a PEG ratio of 2.10 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $4.06 earnings per share. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Analyst Ratings Changes

VRTX has been the topic of several recent analyst reports. Jefferies Financial Group assumed coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 10th. They set a “buy” rating and a $580.00 price objective on the stock. Truist Financial began coverage on shares of Vertex Pharmaceuticals in a research note on Wednesday, May 27th. They set a “buy” rating and a $542.00 target price for the company. Sanford C. Bernstein reduced their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, Citigroup lifted their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Twenty-two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.91.

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.