Capital Advisors Wealth Management LLC Buys New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Capital Advisors Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,742 shares of the pharmaceutical company’s stock, valued at approximately $728,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of Vertex Pharmaceuticals by 21.3% in the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after buying an additional 3,824,103 shares during the period. Norges Bank purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $1,237,877,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Vertex Pharmaceuticals by 2,272.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company’s stock valued at $176,946,000 after buying an additional 416,545 shares during the period. abrdn plc boosted its stake in shares of Vertex Pharmaceuticals by 196.0% in the 4th quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock valued at $236,410,000 after buying an additional 384,730 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $137,975,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now owns 121,374 shares in the company, valued at $55,467,918. The disclosure for this sale can be found here. Insiders have sold 26,086 shares of company stock worth $11,983,266 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Guggenheim boosted their target price on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. StockNews.com lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday. UBS Group cut their price target on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada cut their price target on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $462.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $444.23.

Vertex Pharmaceuticals Price Performance

VRTX traded up $0.68 during trading on Tuesday, reaching $475.63. 242,255 shares of the stock were exchanged, compared to its average volume of 1,221,047. The business’s 50 day moving average price is $438.61 and its two-hundred day moving average price is $423.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. The company has a market capitalization of $122.74 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 2.39 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1 year low of $335.82 and a 1 year high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. Vertex Pharmaceuticals’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 earnings per share. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.32 earnings per share 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.