Morse Asset Management Inc Buys 706 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Morse Asset Management Inc grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,195 shares of the pharmaceutical company’s stock after purchasing an additional 706 shares during the quarter. Morse Asset Management Inc’s holdings in Vertex Pharmaceuticals were worth $4,262,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VRTX. Venturi Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 1.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after purchasing an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in Vertex Pharmaceuticals by 3.9% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after purchasing an additional 24 shares during the last quarter. Hohimer Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after purchasing an additional 24 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in Vertex Pharmaceuticals by 2.5% during the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock worth $407,000 after purchasing an additional 24 shares during the last quarter. Finally, Baystate Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 49.0% during the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this link. In related news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction dated 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 sale, the director now owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,128 shares of company stock valued at $22,839,005. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on VRTX shares. Cantor Fitzgerald lifted their price objective on shares of Vertex Pharmaceuticals from $440.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. UBS Group lowered their price objective on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday. Oppenheimer reiterated an “outperform” rating and issued a $500.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Finally, HC Wainwright lifted their price objective on shares of Vertex Pharmaceuticals from $462.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $460.30.

Vertex Pharmaceuticals Stock Up 0.6 %

VRTX traded up $3.00 during mid-day trading on Friday, reaching $495.26. 774,126 shares of the stock were exchanged, compared to its average volume of 1,047,785. 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 stock has a market capitalization of $127.80 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. The company has a 50 day moving average price of $474.18 and a two-hundred day moving average price of $437.50. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $503.99.

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, topping analysts’ consensus estimates of $3.66 by $1.10. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.67 EPS. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.83 EPS 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.