Venturi Wealth Management LLC Has $1.18 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Venturi Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,532 shares of the pharmaceutical company’s stock after buying an additional 40 shares during the quarter. Venturi Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC lifted its position in shares of Vertex Pharmaceuticals by 6.3% during the 3rd quarter. Ashton Thomas Securities LLC now owns 3,189 shares of the pharmaceutical company’s stock worth $1,483,000 after buying an additional 188 shares during the period. Legacy Capital Wealth Partners LLC raised its position in Vertex Pharmaceuticals by 85.5% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,087 shares of the pharmaceutical company’s stock valued at $506,000 after purchasing an additional 501 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Vertex Pharmaceuticals by 16.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 2,850 shares of the pharmaceutical company’s stock valued at $1,325,000 after purchasing an additional 405 shares during the last quarter. Guerra Pan Advisors LLC raised its position in Vertex Pharmaceuticals by 6.9% in the 3rd quarter. Guerra Pan Advisors LLC now owns 603 shares of the pharmaceutical company’s stock valued at $280,000 after purchasing an additional 39 shares during the last quarter. Finally, Essex Savings Bank raised its position in Vertex Pharmaceuticals by 12.5% in the 3rd quarter. Essex Savings Bank now owns 677 shares of the pharmaceutical company’s stock valued at $315,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen lifted their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank boosted their target price on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Truist Financial restated a “buy” rating and set a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Finally, Bank of America dropped their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $495.96.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $501.72 on Tuesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $519.88. The firm has a market capitalization of $129.21 billion, a PE ratio of -252.12 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.26 and a current ratio of 2.47. The business’s 50-day simple moving average is $475.40 and its 200 day simple moving average is $468.93.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.67 earnings per share. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

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.