Cetera Investment Advisers Has $3.02 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cetera Investment Advisers lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) by 24.1% in the second quarter, Holdings Channel.com reports. The firm owned 10,718 shares of the pharmaceutical company’s stock after selling 3,396 shares during the period. Cetera Investment Advisers’ holdings in Vertex Pharmaceuticals were worth $3,020,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cetera Advisor Networks LLC boosted its stake in Vertex Pharmaceuticals by 2.6% during the 2nd quarter. Cetera Advisor Networks LLC now owns 6,657 shares of the pharmaceutical company’s stock valued at $1,876,000 after purchasing an additional 170 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Vertex Pharmaceuticals by 9.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,560 shares of the pharmaceutical company’s stock valued at $437,000 after purchasing an additional 130 shares during the last quarter. King Luther Capital Management Corp purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $267,000. Bridgewater Associates LP boosted its stake in shares of Vertex Pharmaceuticals by 620.2% in the 2nd quarter. Bridgewater Associates LP now owns 217,152 shares of the pharmaceutical company’s stock worth $61,191,000 after buying an additional 187,000 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 11.9% in the 2nd quarter. Apollon Wealth Management LLC now owns 3,353 shares of the pharmaceutical company’s stock worth $945,000 after buying an additional 357 shares during the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Barclays boosted their target price on Vertex Pharmaceuticals from $307.00 to $313.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Cowen boosted their target price on Vertex Pharmaceuticals from $315.00 to $330.00 in a research note on Friday, October 28th. Piper Sandler boosted their target price on Vertex Pharmaceuticals from $288.00 to $293.00 in a research note on Sunday, October 16th. StockNews.com initiated coverage on Vertex Pharmaceuticals in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Finally, HC Wainwright boosted their target price on Vertex Pharmaceuticals from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.33.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Bastiano Sanna sold 1,791 shares of the business’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $300.31, for a total transaction of $537,855.21. Following the sale, the executive vice president now owns 39,192 shares of the company’s stock, valued at approximately $11,769,749.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP David Altshuler sold 1,303 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $303.04, for a total value of $394,861.12. Following the transaction, the executive vice president now owns 36,077 shares of the company’s stock, valued at $10,932,774.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bastiano Sanna sold 1,791 shares of the company’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $300.31, for a total transaction of $537,855.21. Following the completion of the transaction, the executive vice president now directly owns 39,192 shares in the company, valued at approximately $11,769,749.52. The disclosure for this sale can be found here. Insiders have sold 3,715 shares of company stock valued at $1,125,226 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Down 1.7 %

Shares of VRTX stock opened at $316.16 on Thursday. The company’s fifty day simple moving average is $299.30 and its two-hundred day simple moving average is $285.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.70 and a quick ratio of 4.55. Vertex Pharmaceuticals Incorporated has a 1 year low of $182.66 and a 1 year high of $323.61. The stock has a market capitalization of $81.16 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.81 and a beta of 0.44.

About Vertex Pharmaceuticals

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Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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