Legacy Financial Advisors Inc. Increases Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Legacy Financial Advisors Inc. increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,423 shares of the pharmaceutical company’s stock after acquiring an additional 117 shares during the period. Legacy Financial Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $1,136,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after purchasing an additional 3,761,414 shares during the period. Vanguard Group Inc. lifted its position in Vertex Pharmaceuticals by 1.8% in the first quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after buying an additional 394,338 shares during the last quarter. Capital Research Global Investors boosted its stake in Vertex Pharmaceuticals by 61.0% during the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after buying an additional 2,176,218 shares during the period. Jennison Associates LLC increased its position in Vertex Pharmaceuticals by 21.2% during the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after acquiring an additional 837,461 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Vertex Pharmaceuticals by 10.4% in the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock valued at $1,080,296,000 after acquiring an additional 244,336 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Down 2.7 %

VRTX opened at $464.92 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The firm has a market cap of $119.97 billion, a price-to-earnings ratio of 30.17 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64. The stock has a fifty day moving average price of $482.66 and a 200-day moving average price of $451.87.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm posted $3.53 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on VRTX shares. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Truist Financial reissued a “buy” rating and set a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Argus boosted their price objective on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. HC Wainwright increased their target price on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Guggenheim boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $486.36.

Insider Transactions at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the completion of the sale, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares in the company, valued at $14,198,300.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,047 shares of company stock valued at $16,843,806. Corporate insiders own 0.20% of the company’s stock.

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.