ZRC Wealth Management LLC Acquires Shares of 94 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

ZRC Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 94 shares of the pharmaceutical company’s stock, valued at approximately $39,000.

A number of other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $25,000. Arlington Trust Co LLC boosted its holdings in Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 33 shares during the last quarter. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter valued at approximately $27,000. ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $28,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at approximately $30,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $470.28 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $335.82 and a one year high of $486.42. The stock’s fifty day moving average is $450.53 and its 200-day moving average is $428.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The firm has a market capitalization of $121.36 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.44 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its 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. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. Vertex Pharmaceuticals’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.67 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.08 EPS for the current year.

Insider Activity

In other news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 40,000 shares in the company, valued at approximately $17,920,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $445.56, for a total transaction of $1,015,876.80. Following the completion of the transaction, the chief marketing officer now owns 34,659 shares in the company, valued at approximately $15,442,664.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,366 shares of company stock worth $13,058,787. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VRTX shares. Guggenheim lifted their price target on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Argus boosted their target price on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Canaccord Genuity Group reissued a “sell” rating and issued a $371.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

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.