Clearstead Trust LLC Purchases 97 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Clearstead Trust LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 70.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 234 shares of the pharmaceutical company’s stock after purchasing an additional 97 shares during the quarter. Clearstead Trust LLC’s holdings in Vertex Pharmaceuticals were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Copperwynd Financial LLC boosted its stake in Vertex Pharmaceuticals by 11.6% in the 4th quarter. Copperwynd Financial LLC now owns 5,556 shares of the pharmaceutical company’s stock worth $2,237,000 after purchasing an additional 576 shares during the period. Midwest Professional Planners LTD. boosted its stake in Vertex Pharmaceuticals by 7.1% in the 4th quarter. Midwest Professional Planners LTD. now owns 3,845 shares of the pharmaceutical company’s stock worth $1,548,000 after purchasing an additional 255 shares during the period. LBP AM SA boosted its stake in Vertex Pharmaceuticals by 1,159.5% in the 4th quarter. LBP AM SA now owns 59,359 shares of the pharmaceutical company’s stock worth $23,904,000 after purchasing an additional 54,646 shares during the period. Parnassus Investments LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $731,283,000. Finally, Madison Investment Advisors LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth about $5,848,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $504.77 on Friday. The firm has a market cap of $129.62 billion, a P/E ratio of -229.44, a P/E/G ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The business’s 50 day moving average price is $457.74 and its 200-day moving average price is $462.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the sale, the executive vice president now directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares in the company, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock worth $2,121,012 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRTX shares. Royal Bank of Canada lifted their price target on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. HC Wainwright reiterated a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Bank of America decreased their price objective on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $506.70.

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.