Moran Wealth Management LLC Boosts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Moran Wealth Management LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,944 shares of the pharmaceutical company’s stock after acquiring an additional 866 shares during the quarter. Moran Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $12,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ABC Arbitrage SA bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $1,510,000. Czech National Bank boosted its stake in shares of Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock worth $22,486,000 after purchasing an additional 3,260 shares during the period. Highview Capital Management LLC DE grew its stake in shares of Vertex Pharmaceuticals by 1.8% during the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock valued at $2,324,000 after buying an additional 102 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals in the third quarter worth $662,000. Finally, Davidson Investment Advisors lifted its holdings in Vertex Pharmaceuticals by 26.0% during the 4th quarter. Davidson Investment Advisors now owns 61,161 shares of the pharmaceutical company’s stock valued at $24,630,000 after buying an additional 12,631 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on VRTX shares. Royal Bank of Canada raised their price target on Vertex Pharmaceuticals from $407.00 to $408.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Jefferies Financial Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price target for the stock from $500.00 to $550.00 in a report on Monday, December 9th. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Wells Fargo & Company downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a research report on Thursday, January 30th. Finally, BMO Capital Markets set a $545.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $488.29 on Monday. The stock’s 50 day moving average price is $448.27 and its two-hundred day moving average price is $461.15. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a market capitalization of $125.39 billion, a P/E ratio of -221.95, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 530 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $475.34, for a total value of $251,930.20. Following the sale, the executive vice president now owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. The trade was a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,084 shares of company stock valued at $505,512. Company insiders own 0.20% of the company’s stock.

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.