Miracle Mile Advisors LLC Buys 1,479 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Miracle Mile Advisors LLC raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,470 shares of the pharmaceutical company’s stock after acquiring an additional 1,479 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,869,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $25,000. Annapolis Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $27,000. Arlington Trust Co LLC increased its holdings 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 worth $27,000 after purchasing an additional 33 shares during the period. ICA Group Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $28,000. Finally, Fortitude Family Office LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $471.25 on Tuesday. The firm has a market cap of $121.61 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.39. The firm’s fifty day moving average is $444.89 and its 200-day moving average is $426.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. 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. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business earned $2.67 earnings per share. Vertex Pharmaceuticals’s revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “sell” rating and set a $371.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. BMO Capital Markets raised their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Royal Bank of Canada lowered their target price on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Finally, StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $448.61.

Insider Buying and Selling

In related news, EVP Ourania Tatsis sold 2,350 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the transaction, the executive vice president now owns 53,523 shares of the company’s stock, valued at $23,502,484.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 2,350 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the completion of the sale, the executive vice president now directly owns 53,523 shares of the company’s stock, valued at $23,502,484.53. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Edward Morrow Atkinson III sold 7,288 shares of Vertex Pharmaceuticals 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 completion of the sale, the executive vice president now directly owns 15,972 shares of the company’s stock, valued at $7,634,616. The disclosure for this sale can be found here. Insiders sold 28,366 shares of company stock valued at $13,058,787 over the last quarter. Insiders own 0.20% of the company’s stock.

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.