Avidian Wealth Enterprises LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avidian Wealth Enterprises LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the pharmaceutical company’s stock after acquiring an additional 58 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Vertex Pharmaceuticals were worth $483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VRTX. State Street Corp lifted its position in Vertex Pharmaceuticals by 0.8% during the third quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock worth $5,495,501,000 after buying an additional 90,173 shares during the period. Jennison Associates LLC lifted its position in Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after buying an additional 851,054 shares during the period. Wellington Management Group LLP lifted its position in Vertex Pharmaceuticals by 17.2% during the third quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after buying an additional 704,421 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Vertex Pharmaceuticals by 5.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after buying an additional 159,693 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Vertex Pharmaceuticals by 4.1% during the third quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock worth $1,170,506,000 after buying an additional 100,114 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $462.58 on Friday. The firm has a market cap of $119.13 billion, a P/E ratio of -232.45, a price-to-earnings-growth ratio of 1.80 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The stock has a 50-day simple moving average of $435.70 and a 200-day simple moving average of $461.79.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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 net margin of 4.52% and a negative return on equity of 1.91%. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.94 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the transaction, the executive vice president now owns 64,021 shares of the company’s stock, valued at approximately $29,438,776.43. This represents a 0.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday. Wells Fargo & Company downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price on the stock. in a research report on Thursday, January 30th. HC Wainwright restated a “buy” rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday. Finally, UBS Group upped their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $505.96.

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.