Signature Wealth Management Group Grows Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Signature Wealth Management Group boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,075 shares of the pharmaceutical company’s stock after purchasing an additional 103 shares during the period. Signature Wealth Management Group’s holdings in Vertex Pharmaceuticals were worth $1,641,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of VRTX. Dunhill Financial LLC increased its stake in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $33,000. Truvestments Capital LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VRTX shares. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a report on Thursday, January 30th. Truist Financial lifted their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $500.00 to $550.00 in a research report on Monday, December 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Ten equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 0.4 %

Shares of VRTX opened at $504.77 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The stock’s 50-day moving average is $457.74 and its two-hundred day moving average is $461.89. The stock has a market cap of $129.62 billion, a PE ratio of -229.44, a P/E/G ratio of 2.11 and a beta of 0.41.

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

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.