Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Heirloom Wealth Management

Heirloom Wealth Management raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,835 shares of the pharmaceutical company’s stock after buying an additional 384 shares during the quarter. Vertex Pharmaceuticals comprises about 2.8% of Heirloom Wealth Management’s portfolio, making the stock its 13th biggest holding. Heirloom Wealth Management’s holdings in Vertex Pharmaceuticals were worth $7,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its stake in Vertex Pharmaceuticals by 1.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after purchasing an additional 24 shares during the period. Arthur M. Cohen & Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 3.2% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock worth $326,000 after buying an additional 25 shares during the period. Baystate Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after buying an additional 25 shares during the period. Cooper Financial Group increased its stake in shares of Vertex Pharmaceuticals by 1.0% during the third quarter. Cooper Financial Group now owns 3,020 shares of the pharmaceutical company’s stock worth $1,050,000 after buying an additional 29 shares during the period. Finally, Arjuna Capital increased its stake in shares of Vertex Pharmaceuticals by 0.7% during the third quarter. Arjuna Capital now owns 4,375 shares of the pharmaceutical company’s stock worth $1,521,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the transaction, the executive vice president now owns 74,364 shares in the company, valued at $31,250,727.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Kristen Ambrose sold 1,374 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $577,409.76. Following the completion of the transaction, the chief accounting officer now owns 9,676 shares in the company, valued at $4,066,242.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Amit Sachdev sold 3,222 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the transaction, the executive vice president now owns 74,364 shares of the company’s stock, valued at approximately $31,250,727.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,381 shares of company stock worth $5,203,249. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group lowered shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and upped their target price for the stock from $332.00 to $379.00 in a research note on Wednesday, January 24th. Royal Bank of Canada upped their target price on shares of Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 6th. Wells Fargo & Company upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Oppenheimer reiterated an “outperform” rating and issued a $500.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday. Finally, Barclays increased their price target on shares of Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $429.45.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded up $0.80 during mid-day trading on Friday, hitting $394.28. 1,342,016 shares of the company were exchanged, compared to its average volume of 1,246,165. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $413.60 and a 200-day simple moving average of $397.06. Vertex Pharmaceuticals Incorporated has a 1-year low of $316.43 and a 1-year high of $448.40. The firm has a market cap of $101.91 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.85 and a beta of 0.35.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $3.33 earnings per share. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

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.