AdvisorNet Financial Inc Has $496,000 Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

AdvisorNet Financial Inc raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186 shares of the pharmaceutical company’s stock after purchasing an additional 53 shares during the period. AdvisorNet Financial Inc’s holdings in Vertex Pharmaceuticals were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Anderson Hoagland & Co. raised its position in Vertex Pharmaceuticals by 27.0% during the first quarter. Anderson Hoagland & Co. now owns 21,173 shares of the pharmaceutical company’s stock valued at $8,418,000 after purchasing an additional 4,499 shares in the last quarter. Ballentine Partners LLC raised its position in Vertex Pharmaceuticals by 6.8% during the first quarter. Ballentine Partners LLC now owns 4,878 shares of the pharmaceutical company’s stock valued at $2,039,000 after purchasing an additional 309 shares in the last quarter. RDA Financial Network increased its holdings in shares of Vertex Pharmaceuticals by 33.2% during the first quarter. RDA Financial Network now owns 2,282 shares of the pharmaceutical company’s stock worth $954,000 after buying an additional 569 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth $56,000. Finally, Cooper Financial Group increased its holdings in shares of Vertex Pharmaceuticals by 12.4% during the first quarter. Cooper Financial Group now owns 3,627 shares of the pharmaceutical company’s stock worth $1,516,000 after buying an additional 400 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Ourania Tatsis sold 2,350 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the transaction, the executive vice president now owns 53,523 shares in the company, valued at approximately $23,502,484.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The disclosure for this sale can be found here. Insiders sold a total of 26,086 shares of company stock valued at $11,983,266 in the last three months. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VRTX. Oppenheimer reiterated an “outperform” rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. BMO Capital Markets upped their price target on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Royal Bank of Canada reduced their price objective on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $444.23.

Vertex Pharmaceuticals Stock Up 1.3 %

Shares of NASDAQ:VRTX opened at $474.95 on Tuesday. The firm has a fifty day moving average price of $438.61 and a two-hundred day moving average price of $423.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. Vertex Pharmaceuticals Incorporated has a one year low of $335.82 and a one year high of $486.42. The company has a market cap of $122.56 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 2.39 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm earned $2.67 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.32 EPS 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.