1,536 Shares in Vertex Pharmaceuticals Incorporated $VRTX Purchased by Visionary Wealth Advisors

Visionary Wealth Advisors purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,536 shares of the pharmaceutical company’s stock, valued at approximately $763,000.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Vertex Pharmaceuticals during the second quarter worth $11,975,849,000. Capital Research Global Investors grew its position in shares of Vertex Pharmaceuticals by 4.6% in the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock valued at $7,850,544,000 after purchasing an additional 763,063 shares during the period. State Street Corp grew its position in shares of 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 period. Capital International Investors increased its stake in shares of 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. Finally, Victory Capital Management Inc. increased its stake in shares of Vertex Pharmaceuticals by 49.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after purchasing an additional 1,109,200 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $482.50, for a total transaction of $287,570.00. Following the transaction, the chief marketing officer owned 15,337 shares of the company’s stock, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their position. The sale was disclosed in a legal 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 the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the completion of the sale, the executive vice president directly owned 11,001 shares of the company’s stock, valued at $5,709,519. This represents a 12.29% decrease in their position. 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. Insiders sold 10,464 shares of company stock valued at $4,959,397 in the last three months. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

VRTX opened at $547.59 on Tuesday. The firm has a market capitalization of $138.98 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 2.27 and a beta of 0.30. The company’s 50 day simple moving average is $494.60 and its two-hundred day simple moving average is $466.46. Vertex Pharmaceuticals Incorporated has a 1-year low of $374.17 and a 1-year high of $555.32.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly 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 net margin of 35.00% and a return on equity of 23.09%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the business posted $4.52 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on VRTX shares. Barclays raised their price target 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. TD Cowen boosted their price objective on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Stifel Nicolaus set a $500.00 target price on Vertex Pharmaceuticals in a report on Tuesday, August 4th. Truist Financial raised their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Cantor Fitzgerald lifted their price target on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. One equities research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $563.50.

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.