Tower View Wealth Management LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tower View Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,132 shares of the pharmaceutical company’s stock after purchasing an additional 245 shares during the quarter. Tower View Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC grew its holdings in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter worth approximately $33,000. Truvestments Capital LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.1 %

NASDAQ VRTX opened at $479.79 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The stock has a market cap of $123.21 billion, a P/E ratio of -218.09, a P/E/G ratio of 2.11 and a beta of 0.41. The stock’s fifty day moving average price is $440.39 and its 200-day moving average price is $461.05. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 530 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the sale, the executive vice president now directly owns 58,539 shares of the company’s stock, valued at $27,825,928.26. This trade represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,084 shares of company stock valued at $505,512 over the last ninety days. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VRTX. Truist Financial upped their target price on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Citigroup began coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. UBS Group boosted their price objective on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Scotiabank boosted their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.70.

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.