Mach 1 Financial Group LLC Acquires New Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Mach 1 Financial Group LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,807 shares of the pharmaceutical company’s stock, valued at approximately $735,000.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Arlington Trust Co LLC increased its stake in shares of Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 33 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at $30,000. Baystate Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 49.0% in the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 25 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $34,000. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Barclays boosted their price target on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Oppenheimer reissued an “outperform” rating and issued a $500.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Guggenheim upped their price objective on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $429.45.

Insider Transactions at Vertex Pharmaceuticals

In other news, CAO Kristen Ambrose sold 1,374 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $577,409.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,676 shares in the company, valued at $4,066,242.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the sale, the executive vice president now directly owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kristen Ambrose sold 1,374 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $577,409.76. Following the sale, the chief accounting officer now directly owns 9,676 shares in the company, valued at $4,066,242.24. The disclosure for this sale can be found here. Insiders sold a total of 12,381 shares of company stock worth $5,203,249 over the last three months. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Down 0.9 %

Vertex Pharmaceuticals stock traded down $3.39 during midday trading on Tuesday, reaching $392.81. The company’s stock had a trading volume of 1,727,899 shares, compared to its average volume of 1,226,496. The stock’s 50-day simple moving average is $410.52 and its 200-day simple moving average is $399.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. Vertex Pharmaceuticals Incorporated has a 52-week low of $320.01 and a 52-week high of $448.40. The stock has a market capitalization of $101.53 billion, a P/E ratio of 28.28, a PEG ratio of 1.87 and a beta of 0.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business posted $3.33 earnings per share. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.