Legacy Capital Wealth Partners LLC Makes New $275,000 Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Legacy Capital Wealth Partners LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 586 shares of the pharmaceutical company’s stock, valued at approximately $275,000.

A number of other large investors have also recently bought and sold shares of VRTX. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals in the fourth quarter worth about $25,000. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals in the first quarter worth about $27,000. ICA Group Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $28,000. Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $31,000. Finally, Quest Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $33,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.6 %

NASDAQ VRTX opened at $478.57 on Thursday. Vertex Pharmaceuticals Incorporated has a twelve month low of $340.83 and a twelve month high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The stock has a market cap of $123.52 billion, a price-to-earnings ratio of 31.06 and a beta of 0.40. The firm’s 50 day moving average price is $483.40 and its two-hundred day moving average price is $447.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the firm posted $3.53 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.85 EPS for the current year.

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 that occurred 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 transaction, the executive vice president now directly owns 15,972 shares in the company, valued at approximately $7,634,616. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $3,483,664.00. Following the transaction, the executive vice president now directly owns 15,972 shares in the company, valued at approximately $7,634,616. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares in the company, valued at $52,767,484. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,615 shares of company stock worth $21,417,310. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada cut their price target on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Truist Financial reaffirmed a “buy” rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Piper Sandler lifted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Redburn Atlantic began coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a “buy” rating and a $545.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $485.91.

About Vertex Pharmaceuticals

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.