Montchanin Asset Management LLC Invests $4.59 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Montchanin Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,979 shares of the pharmaceutical company’s stock, valued at approximately $4,589,000. Vertex Pharmaceuticals accounts for approximately 4.5% of Montchanin Asset Management LLC’s holdings, making the stock its 8th biggest position.

A number of other institutional investors also recently bought and sold shares of VRTX. Venturi Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 1.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after buying an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its position in shares of Vertex Pharmaceuticals by 3.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after purchasing an additional 24 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 0.8% in the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after purchasing an additional 24 shares in the last quarter. Johnson Financial Group Inc. grew its position in Vertex Pharmaceuticals by 2.5% during the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after purchasing an additional 24 shares during the last quarter. Finally, Baystate Wealth Management LLC increased its stake in Vertex Pharmaceuticals by 49.0% during the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

VRTX stock traded up $10.06 during trading on Thursday, reaching $505.78. The company’s stock had a trading volume of 1,892,194 shares, compared to its average volume of 1,208,800. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average is $478.50 and its 200-day moving average is $439.33. The company has a market capitalization of $130.52 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 2.65 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results 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 return on equity of 23.08% and a net margin of 39.46%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business posted $2.67 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. UBS Group lowered their price target on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Cantor Fitzgerald boosted their price objective on shares of Vertex Pharmaceuticals from $440.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $460.52.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, insider Reshma Kewalramani 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available at this link. In other news, insider Reshma Kewalramani 15,202 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction that occurred 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 transaction, the director now owns 40,000 shares of the company’s stock, valued at $17,920,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,128 shares of company stock valued at $22,839,005. 0.20% of the stock is currently owned by corporate insiders.

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.