Advisors Asset Management Inc. Purchases 1,145 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Advisors Asset Management Inc. boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,612 shares of the pharmaceutical company’s stock after purchasing an additional 1,145 shares during the period. Advisors Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $11,119,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VRTX. Dunhill Financial LLC increased its holdings in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. bought a new position in Vertex Pharmaceuticals during the 4th quarter worth about $30,000. Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth about $33,000. Truvestments Capital LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth about $35,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Barclays raised their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Finally, Piper Sandler decreased their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $506.70.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. This trade represents a 10.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,315 shares of company stock valued at $2,121,012 over the last three months. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Up 1.8 %

NASDAQ VRTX opened at $513.76 on Tuesday. 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 1-year low of $377.85 and a 1-year high of $519.88. The company has a 50 day moving average of $459.97 and a 200-day moving average of $461.84. The company has a market cap of $131.93 billion, a price-to-earnings ratio of -233.53, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.