EWG Elevate Inc. Takes $107,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

EWG Elevate Inc. acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 369 shares of the pharmaceutical company’s stock, valued at approximately $107,000.

Other large investors also recently modified their holdings of the company. AdvisorNet Financial Inc grew its stake in shares of Vertex Pharmaceuticals by 5.3% in the third quarter. AdvisorNet Financial Inc now owns 1,153 shares of the pharmaceutical company’s stock worth $334,000 after purchasing an additional 58 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the second quarter worth about $1,318,000. Quadrant Capital Group LLC grew its stake in shares of Vertex Pharmaceuticals by 8.7% in the third quarter. Quadrant Capital Group LLC now owns 2,012 shares of the pharmaceutical company’s stock worth $583,000 after purchasing an additional 161 shares during the last quarter. LMR Partners LLP grew its stake in shares of Vertex Pharmaceuticals by 35.1% in the third quarter. LMR Partners LLP now owns 18,980 shares of the pharmaceutical company’s stock worth $5,495,000 after purchasing an additional 4,928 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 21.0% in the third quarter. HB Wealth Management LLC now owns 1,635 shares of the pharmaceutical company’s stock worth $473,000 after purchasing an additional 284 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $295.77 on Friday. The firm has a 50 day moving average price of $299.15 and a 200-day moving average price of $299.14. Vertex Pharmaceuticals Incorporated has a 52-week low of $233.01 and a 52-week high of $325.19. The firm has a market capitalization of $76.04 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 2.60 and a beta of 0.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.66 and a current ratio of 4.83.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last released its earnings results on Tuesday, February 7th. The pharmaceutical company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.65. Vertex Pharmaceuticals had a net margin of 37.20% and a return on equity of 27.78%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the business earned $3.18 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 12.39 EPS for the current fiscal year.

Insider Activity

In other news, Director Yuchun Lee sold 1,429 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $322.03, for a total transaction of $460,180.87. Following the completion of the transaction, the director now directly owns 1,875 shares in the company, valued at $603,806.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Charles F. Wagner, Jr. sold 2,088 shares of the business’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $289.61, for a total value of $604,705.68. Following the completion of the transaction, the chief financial officer now directly owns 56,045 shares in the company, valued at approximately $16,231,192.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yuchun Lee sold 1,429 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $322.03, for a total transaction of $460,180.87. Following the completion of the transaction, the director now owns 1,875 shares of the company’s stock, valued at $603,806.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,916 shares of company stock worth $12,466,970. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright raised their target price on Vertex Pharmaceuticals from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Piper Sandler reissued a “neutral” rating and issued a $296.00 target price on shares of Vertex Pharmaceuticals in a research note on Wednesday, February 8th. SVB Leerink lowered their price objective on shares of Vertex Pharmaceuticals from $374.00 to $365.00 and set an “outperform” rating for the company in a report on Wednesday, February 8th. Jefferies Financial Group lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $340.00 price objective for the company. in a report on Monday, December 19th. Finally, SVB Securities lowered their price objective on shares of Vertex Pharmaceuticals from $374.00 to $365.00 in a report on Wednesday, February 8th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $327.10.

Vertex Pharmaceuticals Profile

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Vertex Pharmaceuticals, Inc is a global biotechnology company, which engages in the business of discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.