Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,368 shares of the pharmaceutical company’s stock after purchasing an additional 237 shares during the quarter. Brookstone Capital Management’s holdings in Vertex Pharmaceuticals were worth $990,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Vertex Pharmaceuticals by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 22,282,180 shares of the pharmaceutical company’s stock valued at $9,066,396,000 after acquiring an additional 298,824 shares during the period. Capital World Investors grew its position in Vertex Pharmaceuticals by 21.3% during the fourth quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after acquiring an additional 3,824,103 shares during the period. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 3.9% during the fourth quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock valued at $1,605,146,000 after acquiring an additional 147,248 shares during the period. Capital Research Global Investors grew its position in Vertex Pharmaceuticals by 5.8% during the fourth quarter. Capital Research Global Investors now owns 3,567,664 shares of the pharmaceutical company’s stock valued at $1,451,647,000 after acquiring an additional 195,080 shares during the period. Finally, Norges Bank purchased a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $1,237,877,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In other news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,366 shares of company stock valued at $13,058,787. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research reports. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target for the company in a research report on Thursday, April 11th. Guggenheim boosted their price objective on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Canaccord Genuity Group restated a “sell” rating and set a $371.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Finally, Oppenheimer restated an “outperform” rating and set a $500.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

Vertex Pharmaceuticals Trading Down 0.8 %

Shares of NASDAQ VRTX opened at $468.72 on Friday. The stock’s 50 day moving average price is $444.89 and its two-hundred day moving average price is $426.64. Vertex Pharmaceuticals Incorporated has a 52-week low of $335.82 and a 52-week high of $486.42. The stock has a market capitalization of $120.95 billion, a P/E ratio of 30.42, a PEG ratio of 2.43 and a beta of 0.41. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $1.10. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.67 earnings per share. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.22 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.