Lockerman Financial Group Inc. Takes Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Lockerman Financial Group Inc. purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 534 shares of the pharmaceutical company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. University of Texas Texas AM Investment Managment Co. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $25,000. Arlington Trust Co LLC increased its position in Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $28,000. Fortitude Family Office LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $30,000. Finally, Baystate Wealth Management LLC increased its position in Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after buying an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Edward Morrow Atkinson III sold 7,288 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the completion of the sale, the executive vice president now owns 15,972 shares of the company’s stock, valued at approximately $7,634,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Edward Morrow Atkinson III sold 7,288 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $3,483,664.00. Following the completion of the transaction, the executive vice president now owns 15,972 shares of the company’s stock, valued at approximately $7,634,616. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were 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 approximately $15,477,162. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,086 shares of company stock valued at $11,983,266. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on VRTX. Evercore ISI raised shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price on the stock in a research report on Thursday, April 11th. Argus increased their target price on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. BMO Capital Markets increased their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Finally, StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $448.61.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $3.03 during midday trading on Friday, reaching $475.54. The company had a trading volume of 115,406 shares, compared to its average volume of 1,218,598. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $122.71 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.44 and a beta of 0.41. The stock has a fifty day simple moving average of $441.82 and a 200 day simple moving average of $425.06. Vertex Pharmaceuticals Incorporated has a 1-year low of $335.82 and a 1-year high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business posted $2.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current 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.