Stifel Financial Corp Has $50.28 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Stifel Financial Corp grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 32.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,844 shares of the pharmaceutical company’s stock after buying an additional 30,512 shares during the period. Stifel Financial Corp’s holdings in Vertex Pharmaceuticals were worth $50,275,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Advisory Resource Group boosted its position in Vertex Pharmaceuticals by 3.2% during the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company’s stock worth $916,000 after purchasing an additional 61 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 1,352.3% in the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company’s stock worth $736,000 after buying an additional 1,474 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth $24,280,000. Wilmington Savings Fund Society FSB acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $2,187,000. Finally, Destination Wealth Management raised its holdings in Vertex Pharmaceuticals by 4.5% in the 3rd quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company’s stock worth $1,563,000 after acquiring an additional 144 shares during the period. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Bank of America lifted their price target on Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Wells Fargo & Company cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective for the company. in a research report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $514.91.

Vertex Pharmaceuticals Stock Up 2.7 %

Shares of NASDAQ VRTX opened at $490.47 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The business has a fifty day moving average of $487.81 and a two-hundred day moving average of $465.64. The stock has a market cap of $125.95 billion, a PE ratio of -222.94, a PEG ratio of 2.11 and a beta of 0.50.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) 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%. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.