Summit Financial LLC Purchases 239 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Summit Financial LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 38.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 854 shares of the pharmaceutical company’s stock after acquiring an additional 239 shares during the period. Summit Financial LLC’s holdings in Vertex Pharmaceuticals were worth $347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Vertex Pharmaceuticals in the third quarter valued at about $25,000. Arlington Trust Co LLC grew its position in shares of Vertex Pharmaceuticals by 97.1% during the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $30,000. Baystate Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals by 49.0% in the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 25 shares during the period. Finally, NBC Securities Inc. bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $34,000. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group cut their target price on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company increased their price target on Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Robert W. Baird cut Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective on the stock. in a report on Wednesday, January 31st. HC Wainwright increased their target price on Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Barclays lifted 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 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 given a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $430.86.

Insiders Place Their Bets

In related news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 74,364 shares in the company, valued at approximately $31,250,727.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $23,755,762.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Amit Sachdev sold 3,222 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the sale, the executive vice president now directly 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. Insiders sold a total of 12,381 shares of company stock valued at $5,203,249 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $401.08 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.99 and a quick ratio of 3.78. The firm has a 50-day moving average of $409.64 and a 200-day moving average of $399.55. The company has a market cap of $103.66 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a one year low of $320.01 and a one year high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the business earned $3.33 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 14.95 earnings per share for the current 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.