1,684 Shares in Vertex Pharmaceuticals Incorporated $VRTX Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,684 shares of the pharmaceutical company’s stock, valued at approximately $836,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth $3,004,000. Bell Investment Advisors Inc bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $75,000. Roman Butler Fullerton & Co. acquired a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $784,000. Cura Wealth Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth about $399,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $1,387,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.5%

VRTX stock opened at $528.19 on Wednesday. The stock has a market cap of $134.05 billion, a P/E ratio of 30.74, a P/E/G ratio of 2.09 and a beta of 0.30. The stock’s fifty day simple moving average is $486.36 and its two-hundred day simple moving average is $464.31. 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 analysts’ consensus estimates of $4.74 by ($0.01). The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.52 earnings per share. As a group, analysts forecast 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 firms have issued reports on VRTX. Cantor Fitzgerald lifted their price target on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Barclays lifted their target price on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, TD Cowen upped their target price on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $563.50.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the transaction, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the 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 transaction, 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 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 90 days, insiders have sold 10,464 shares of company stock valued at $4,959,397. 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.