Strategic Advisors LLC Has $232,000 Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Strategic Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 556 shares of the pharmaceutical company’s stock after buying an additional 31 shares during the quarter. Strategic Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in VRTX. Trexquant Investment LP purchased a new position in Vertex Pharmaceuticals during the third quarter worth about $528,000. Axxcess Wealth Management LLC raised its position in Vertex Pharmaceuticals by 52.2% in the third quarter. Axxcess Wealth Management LLC now owns 1,997 shares of the pharmaceutical company’s stock worth $694,000 after acquiring an additional 685 shares during the period. Alps Advisors Inc. raised its position in Vertex Pharmaceuticals by 7.4% in the third quarter. Alps Advisors Inc. now owns 2,654 shares of the pharmaceutical company’s stock worth $923,000 after acquiring an additional 183 shares during the period. JT Stratford LLC raised its position in Vertex Pharmaceuticals by 29.9% in the third quarter. JT Stratford LLC now owns 6,113 shares of the pharmaceutical company’s stock worth $2,126,000 after acquiring an additional 1,407 shares during the period. Finally, Seven Eight Capital LP raised its position in Vertex Pharmaceuticals by 224.5% in the third quarter. Seven Eight Capital LP now owns 33,544 shares of the pharmaceutical company’s stock worth $11,665,000 after acquiring an additional 23,206 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Bruce I. Sachs sold 7,073 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the business’s 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 in the company, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. Insiders have sold a total of 28,366 shares of company stock valued at $13,058,787 in the last quarter. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.6 %

NASDAQ:VRTX traded up $2.98 during trading hours on Friday, reaching $473.26. The company’s stock had a trading volume of 153,132 shares, compared to its average volume of 1,225,705. The firm has a market capitalization of $122.12 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.44 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $335.82 and a 1 year high of $486.42. 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 firm has a 50-day simple moving average of $450.53 and a 200-day simple moving average of $428.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.67 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Argus boosted their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, June 17th. UBS Group lowered their price target on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Guggenheim boosted their price target on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Piper Sandler boosted their price target on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Finally, Wells Fargo & Company boosted their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $448.61.

Vertex Pharmaceuticals Company 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.