Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,747 shares of the pharmaceutical company’s stock after purchasing an additional 1,144 shares during the period. Valeo Financial Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $2,820,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital World Investors grew its holdings in Vertex Pharmaceuticals by 21.3% during the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock worth $8,872,586,000 after acquiring an additional 3,824,103 shares during the period. Norges Bank purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth $1,237,877,000. Public Employees Retirement Association of Colorado grew its stake in shares of Vertex Pharmaceuticals by 2,272.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company’s stock worth $176,946,000 after purchasing an additional 416,545 shares during the period. abrdn plc increased its holdings 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 purchasing an additional 384,730 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $137,975,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Oppenheimer reissued an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Redburn Atlantic started coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $462.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Finally, StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $448.61.

Insider Activity

In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the transaction, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were 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 of the company’s stock, valued at $55,467,918. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,366 shares of company stock worth $13,058,787. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Down 0.7 %

Vertex Pharmaceuticals stock traded down $3.50 during midday trading on Wednesday, reaching $470.28. The stock had a trading volume of 707,905 shares, compared to its average volume of 1,234,145. The stock has a market capitalization of $121.36 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 2.41 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The stock’s 50-day simple moving average is $447.69 and its 200 day simple moving average is $427.70. Vertex Pharmaceuticals Incorporated has a twelve month low of $335.82 and a twelve month high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $2.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals Incorporated will post 15.22 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.