SVB Wealth LLC Buys New Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

SVB Wealth LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 15,163 shares of the pharmaceutical company’s stock, valued at approximately $6,106,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. ABC Arbitrage SA acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $1,510,000. Czech National Bank raised its stake in shares of Vertex Pharmaceuticals by 6.2% in the fourth 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 last quarter. Highview Capital Management LLC DE raised its stake in shares of Vertex Pharmaceuticals by 1.8% in the fourth quarter. Highview Capital Management LLC DE now owns 5,771 shares of the pharmaceutical company’s stock worth $2,324,000 after purchasing an additional 102 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $662,000. Finally, Davidson Investment Advisors boosted its position in shares of Vertex Pharmaceuticals by 26.0% during the fourth 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 during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.1 %

VRTX opened at $479.79 on Friday. The company has a 50 day moving average of $440.39 and a 200 day moving average of $461.05. The company has a current ratio of 2.69, a quick ratio of 2.35 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 company has a market cap of $123.21 billion, a PE ratio of -218.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Activity

In related news, EVP Ourania Tatsis sold 244 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,084 shares of company stock worth $505,512 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on VRTX shares. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a report on Thursday, January 30th. Piper Sandler decreased their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Jefferies Financial Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their target price for the stock from $500.00 to $550.00 in a research report on Monday, December 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $506.70.

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.