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

Tower View Wealth Management LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,132 shares of the pharmaceutical company’s stock after purchasing an additional 245 shares during the period. Tower View Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,067,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC boosted its position in Vertex Pharmaceuticals by 70.6% in 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 during the last quarter. Brown Lisle Cummings Inc. purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals in the third quarter worth about $33,000. Truvestments Capital LLC purchased a new position in Vertex Pharmaceuticals in the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent research reports. William Blair reaffirmed an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Citigroup initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective on the stock. Scotiabank raised their price objective on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Wells Fargo & Company downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price objective on the stock. in a research note on Thursday, January 30th. Finally, Truist Financial raised their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $479.79 on Friday. The stock has a market capitalization of $123.21 billion, a PE ratio of -218.09, a P/E/G ratio of 2.11 and a beta of 0.41. The business has a 50 day simple moving average of $440.39 and a two-hundred day simple moving average of $461.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 244 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 1,084 shares of company stock worth $505,512. 0.20% of the stock is currently owned by company insiders.

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.