Cetera Investment Advisers Has $32.43 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Cetera Investment Advisers trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,633 shares of the pharmaceutical company’s stock after selling 2,380 shares during the quarter. Cetera Investment Advisers’ holdings in Vertex Pharmaceuticals were worth $32,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Earned Wealth Advisors LLC raised its position in Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after acquiring an additional 21 shares in the last quarter. Confluence Wealth Services Inc. lifted its stake in Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after acquiring an additional 21 shares during the last quarter. Williams Jones Wealth Management LLC. grew its position in Vertex Pharmaceuticals by 1.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after acquiring an additional 21 shares in the last quarter. Childress Capital Advisors LLC grew its position in Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock worth $331,000 after acquiring an additional 22 shares in the last quarter. Finally, Glenview Trust Co increased its stake in shares of Vertex Pharmaceuticals by 0.3% during the 4th quarter. Glenview Trust Co now owns 7,005 shares of the pharmaceutical company’s stock worth $3,176,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 6,988 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00. Following the completion of the transaction, the chief marketing officer directly owned 26,088 shares in the company, valued at $11,739,600. This represents a 21.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,874 shares of company stock valued at $8,707,966 in the last three months. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Up 0.9%

VRTX opened at $477.36 on Friday. The stock’s 50 day moving average price is $465.77 and its two-hundred day moving average price is $459.80. The firm has a market capitalization of $121.15 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 2.15 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the company earned $4.06 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Barclays increased their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. Royal Bank Of Canada upped their price target on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Finally, Canaccord Genuity Group lowered their price objective on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a report on Tuesday, May 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $559.61.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.