567 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Aviance Capital Partners LLC

Aviance Capital Partners LLC bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 567 shares of the pharmaceutical company’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. abrdn plc increased its position in Vertex Pharmaceuticals by 196.0% during the fourth quarter. abrdn plc now owns 581,018 shares of the pharmaceutical company’s stock worth $236,410,000 after buying an additional 384,730 shares during the last quarter. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $81,378,000. Jennison Associates LLC lifted its position in Vertex Pharmaceuticals by 3.9% during the 4th quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock worth $1,605,146,000 after buying an additional 147,248 shares in the last quarter. Northern Trust Corp raised its position in Vertex Pharmaceuticals by 4.9% in the 3rd quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock worth $978,388,000 after purchasing an additional 131,539 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 21,750.1% during the fourth quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock valued at $46,853,000 after acquiring an additional 114,623 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $7.74 on Tuesday, reaching $410.24. The stock had a trading volume of 1,614,025 shares, compared to its average volume of 1,230,101. The business’s 50 day moving average is $408.02 and its two-hundred day moving average is $400.75. The company has a market cap of $106.03 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 1.89 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $320.01 and a 1 year high of $448.40. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $1.10. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.67 earnings per share. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VRTX. UBS Group decreased their target price on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Sanford C. Bernstein downgraded Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $440.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, February 20th. Royal Bank of Canada upped their price target on shares of Vertex Pharmaceuticals from $417.00 to $424.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Oppenheimer reissued an “outperform” rating and issued a $500.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $432.18.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the transaction, the executive vice president now directly owns 55,804 shares in the company, valued at $23,755,762.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,295 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the completion of the transaction, the chief operating officer now owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ourania Tatsis sold 354 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the transaction, the executive vice president now owns 55,804 shares of the company’s stock, valued at approximately $23,755,762.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,381 shares of company stock valued at $5,203,249 over the last 90 days. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals 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.