Kathmere Capital Management LLC Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kathmere Capital Management LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 577 shares of the pharmaceutical company’s stock after purchasing an additional 52 shares during the period. Kathmere Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $241,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $25,000. Arlington Trust Co LLC boosted its position in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 33 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $30,000. Finally, Baystate Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the completion of the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,366 shares of company stock worth $13,058,787. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $468.72 on Friday. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $444.89 and a two-hundred day simple moving average of $426.17. The stock has a market cap of $120.95 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.43 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 52 week low of $335.82 and a 52 week high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.67 earnings per share. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.22 EPS for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several research reports. UBS Group dropped their price target on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Redburn Atlantic assumed coverage on Vertex Pharmaceuticals in a research note on Thursday. They set a “buy” rating and a $545.00 price objective for the company. Wells Fargo & Company lifted their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Finally, BMO Capital Markets upped their price target on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $448.61.

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.