Legacy Financial Advisors Inc. Has $1.03 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Legacy Financial Advisors Inc. boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,552 shares of the pharmaceutical company’s stock after acquiring an additional 104 shares during the period. Legacy Financial Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $1,028,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth $30,000. Sugar Maple Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $35,000. Golden State Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth $37,000. Truvestments Capital LLC lifted its holdings in shares of Vertex Pharmaceuticals by 30.3% during the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after purchasing an additional 23 shares in the last quarter. Finally, Midwest Capital Advisors LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $41,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction on Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares in the company, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ourania Tatsis sold 530 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $475.34, for a total transaction of $251,930.20. Following the completion of the sale, the executive vice president now owns 58,539 shares of the company’s stock, valued at approximately $27,825,928.26. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,315 shares of company stock valued at $2,121,012. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on VRTX shares. Truist Financial raised their price target on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Barclays upped their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and increased their price objective for the company from $408.00 to $424.00 in a research note on Tuesday, February 11th. Finally, Piper Sandler dropped their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $509.17.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $482.30 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The firm’s 50-day moving average is $484.70 and its 200-day moving average is $464.03. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The company has a market cap of $123.85 billion, a price-to-earnings ratio of -219.23, a PEG ratio of 2.11 and a beta of 0.50.

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

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.