Lockerman Financial Group Inc. Invests $223,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Lockerman Financial Group Inc. acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 534 shares of the pharmaceutical company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $25,000. Arlington Trust Co LLC lifted its stake in Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 33 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $30,000. Finally, Baystate Wealth Management LLC lifted its stake in 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 purchasing an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.6 %

NASDAQ:VRTX traded up $3.03 during trading hours on Friday, reaching $475.54. The company had a trading volume of 115,406 shares, compared to its average volume of 1,218,598. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The firm has a market cap of $122.71 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.44 and a beta of 0.41. The business’s 50-day simple moving average is $441.82 and its two-hundred day simple moving average is $425.06. Vertex Pharmaceuticals Incorporated has a twelve month low of $335.82 and a twelve month high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the company posted $2.67 earnings per share. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $1,089,840.00. Following the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the transaction, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,086 shares of company stock worth $11,983,266. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. UBS Group dropped their price target on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. BMO Capital Markets raised their price target on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Finally, Wells Fargo & Company raised their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

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.