64 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Annapolis Financial Services LLC

Annapolis Financial Services LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 64 shares of the pharmaceutical company’s stock, valued at approximately $27,000.

Several other institutional investors have also modified their holdings of the business. New Mexico Educational Retirement Board raised its stake in Vertex Pharmaceuticals by 10.4% during the first quarter. New Mexico Educational Retirement Board now owns 14,800 shares of the pharmaceutical company’s stock valued at $6,187,000 after buying an additional 1,400 shares in the last quarter. Founders Financial Securities LLC raised its stake in Vertex Pharmaceuticals by 18.4% during the first quarter. Founders Financial Securities LLC now owns 1,186 shares of the pharmaceutical company’s stock valued at $496,000 after buying an additional 184 shares in the last quarter. Symphony Financial Ltd. Co. raised its stake in Vertex Pharmaceuticals by 164.9% during the first quarter. Symphony Financial Ltd. Co. now owns 2,336 shares of the pharmaceutical company’s stock valued at $976,000 after buying an additional 1,454 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the first quarter valued at approximately $255,000. Finally, Grimes & Company Inc. raised its stake in Vertex Pharmaceuticals by 19.3% during the first quarter. Grimes & Company Inc. now owns 607 shares of the pharmaceutical company’s stock valued at $254,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX traded down $3.79 during trading hours on Friday, hitting $468.72. 3,234,634 shares of the company were exchanged, compared to its average volume of 1,247,780. The company has a market capitalization of $120.95 billion, a PE ratio of 30.42, a PEG ratio of 2.43 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. The firm has a fifty day simple moving average of $444.89 and a 200-day simple moving average of $426.64. Vertex Pharmaceuticals Incorporated has a one year low of $335.82 and a one year high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.67 earnings per share. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Insider Activity

In other news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the completion of the sale, the chief marketing officer now owns 30,099 shares in the company, valued at $14,198,300.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the sale, the chief marketing officer now directly owns 30,099 shares in the company, valued at $14,198,300.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the sale, the chief executive officer now owns 121,374 shares of the company’s stock, valued at $55,467,918. The disclosure for this sale can be found here. Insiders sold 28,366 shares of company stock worth $13,058,787 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VRTX shares. Redburn Atlantic started coverage on Vertex Pharmaceuticals in a research note on Thursday. They set a “buy” rating and a $545.00 price objective on the stock. Wells Fargo & Company increased their price target on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Guggenheim increased their price target on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Canaccord Genuity Group reiterated a “sell” rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

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.