Newfound Research LLC Buys 172 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)


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Newfound Research LLC raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 95.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 352 shares of the pharmaceutical company’s stock after purchasing an additional 172 shares during the quarter. Newfound Research LLC’s holdings in Vertex Pharmaceuticals were worth $76,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. JustInvest LLC increased its holdings in shares of Vertex Pharmaceuticals by 39.8% during the 1st quarter. JustInvest LLC now owns 4,270 shares of the pharmaceutical company’s stock worth $918,000 after purchasing an additional 1,216 shares during the period. Sound View Wealth Advisors Group LLC increased its holdings in shares of Vertex Pharmaceuticals by 14.0% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 1,306 shares of the pharmaceutical company’s stock worth $281,000 after purchasing an additional 160 shares during the period. Spearhead Capital Advisors LLC increased its stake in Vertex Pharmaceuticals by 75.2% in the first quarter. Spearhead Capital Advisors LLC now owns 1,731 shares of the pharmaceutical company’s stock valued at $372,000 after acquiring an additional 743 shares during the period. US Bancorp DE increased its stake in Vertex Pharmaceuticals by 14.7% in the first quarter. US Bancorp DE now owns 16,176 shares of the pharmaceutical company’s stock valued at $3,477,000 after acquiring an additional 2,068 shares during the period. Finally, Park Avenue Securities LLC increased its stake in Vertex Pharmaceuticals by 67.7% in the first quarter. Park Avenue Securities LLC now owns 11,543 shares of the pharmaceutical company’s stock valued at $2,480,000 after acquiring an additional 4,661 shares during the period. Institutional investors own 92.17% of the company’s stock.

VRTX has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $253.00 to $254.00 and gave the company an “equal weight” rating in a research note on Monday. BMO Capital Markets reduced their price target on shares of Vertex Pharmaceuticals from $302.00 to $284.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 2nd. Piper Sandler boosted their price target on shares of Vertex Pharmaceuticals from $307.00 to $347.00 and gave the company an “overweight” rating in a research report on Tuesday, February 2nd. HC Wainwright reduced their price target on shares of Vertex Pharmaceuticals from $315.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, February 2nd. Finally, Credit Suisse Group lowered their target price on shares of Vertex Pharmaceuticals from $285.00 to $280.00 and set an “outperform” rating for the company in a research note on Tuesday, February 2nd. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $293.47.

NASDAQ:VRTX traded down $4.42 during mid-day trading on Tuesday, hitting $213.53. 19,299 shares of the company’s stock were exchanged, compared to its average volume of 1,972,385. The company has a 50 day simple moving average of $215.79 and a 200-day simple moving average of $220.47. The company has a current ratio of 3.72, a quick ratio of 3.60 and a debt-to-equity ratio of 0.07. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $202.57 and a fifty-two week high of $306.08. The firm has a market capitalization of $55.27 billion, a P/E ratio of 27.52, a PEG ratio of 1.25 and a beta of 0.79.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, April 29th. The pharmaceutical company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.38 by $0.60. Vertex Pharmaceuticals had a net margin of 38.51% and a return on equity of 28.55%. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 8.5 earnings per share for the current year.

In other Vertex Pharmaceuticals news, CAO Paul M. Silva sold 1,498 shares of the business’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $210.57, for a total transaction of $315,433.86. Following the completion of the sale, the chief accounting officer now owns 24,073 shares in the company, valued at approximately $5,069,051.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Parini sold 400 shares of the business’s stock in a transaction on Wednesday, February 3rd. The shares were sold at an average price of $216.56, for a total transaction of $86,624.00. Following the sale, the executive vice president now owns 35,276 shares of the company’s stock, valued at approximately $7,639,370.56. The disclosure for this sale can be found here. Insiders sold a total of 11,084 shares of company stock worth $2,372,229 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals, Inc is a global biotechnology company. It engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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