Lake Street Private Wealth LLC Buys 1,949 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Lake Street Private Wealth LLC grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 125.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,503 shares of the pharmaceutical company’s stock after acquiring an additional 1,949 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $1,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of VRTX. Leeward Financial Partners LLC raised its holdings in Vertex Pharmaceuticals by 1.5% in the 1st quarter. Leeward Financial Partners LLC now owns 8,686 shares of the pharmaceutical company’s stock worth $3,631,000 after acquiring an additional 127 shares during the last quarter. Albion Financial Group UT raised its stake in shares of Vertex Pharmaceuticals by 4.3% in the first quarter. Albion Financial Group UT now owns 1,395 shares of the pharmaceutical company’s stock worth $583,000 after purchasing an additional 57 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 20.4% during the first quarter. Valeo Financial Advisors LLC now owns 6,747 shares of the pharmaceutical company’s stock valued at $2,820,000 after purchasing an additional 1,144 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Vertex Pharmaceuticals by 1.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 718,410 shares of the pharmaceutical company’s stock valued at $300,303,000 after buying an additional 7,794 shares during the last quarter. Finally, MBM Wealth Consultants LLC increased its holdings in Vertex Pharmaceuticals by 3.5% in the 1st quarter. MBM Wealth Consultants LLC now owns 2,450 shares of the pharmaceutical company’s stock worth $1,024,000 after buying an additional 82 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $470.28 on Thursday. The company has a market cap of $121.36 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.46 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $335.82 and a 52-week high of $486.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The firm’s fifty day moving average is $447.69 and its two-hundred day moving average is $427.70.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.67 earnings per share. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VRTX shares. Wells Fargo & Company raised their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target on the stock in a research note on Thursday, April 11th. StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada dropped their target price on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. Finally, HC Wainwright restated a “buy” rating and set a $462.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $448.61.

Insider Transactions at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 1,565 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the completion of the transaction, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Reshma Kewalramani sold 1,565 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the completion of the transaction, the chief executive officer now owns 121,374 shares in the company, valued at $55,467,918. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The disclosure for this sale can be found here. Insiders have sold 28,366 shares of company stock valued at $13,058,787 in the last ninety days. Corporate 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.