Perigon Wealth Management LLC Purchases Shares of 8,834 Vertex Pharmaceuticals Incorporated $VRTX

Perigon Wealth Management LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, HoldingsChannel.com reports. The firm bought 8,834 shares of the pharmaceutical company’s stock, valued at approximately $4,388,000.

Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors lifted its position in shares of Vertex Pharmaceuticals by 4.6% during the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after purchasing an additional 763,063 shares during the last quarter. State Street Corp increased its stake in Vertex Pharmaceuticals by 0.7% in the fourth quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock valued at $5,299,569,000 after purchasing an additional 83,539 shares during the last quarter. Capital International Investors raised its holdings in Vertex Pharmaceuticals by 0.9% during the fourth quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock worth $2,146,041,000 after purchasing an additional 44,537 shares in the last quarter. Victory Capital Management Inc. grew its position 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 buying an additional 1,109,200 shares during the last quarter. Finally, Norges Bank purchased a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $1,440,149,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $515.55 on Tuesday. The firm has a market cap of $130.85 billion, a price-to-earnings ratio of 30.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.30. The firm’s fifty day moving average price is $484.71 and its 200 day moving average price is $463.96. Vertex Pharmaceuticals Incorporated has a 1-year low of $374.17 and a 1-year high of $546.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the business posted $4.52 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on VRTX. Truist Financial lifted their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Canaccord Genuity Group increased their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Barclays lifted their price objective on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $563.50.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the transaction, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the sale, the executive vice president owned 11,001 shares of the company’s stock, valued at approximately $5,709,519. The trade was a 12.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 10,464 shares of company stock valued at $4,959,397. 0.20% of the stock is owned by company insiders.

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.