B. Riley Wealth Advisors Inc. Has $2.87 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,115 shares of the pharmaceutical company’s stock after selling 1,881 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $2,865,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $30,000. Golden State Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. Truvestments Capital LLC lifted its stake in Vertex Pharmaceuticals by 30.3% in the fourth quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after acquiring an additional 23 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $40,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at approximately $41,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on VRTX shares. HC Wainwright reiterated a “buy” rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Royal Bank of Canada lifted their target price on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Scotiabank reduced their target price on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 6th. Thirteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $515.04.

Vertex Pharmaceuticals Trading Up 0.5%

Shares of VRTX stock opened at $436.00 on Monday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The firm’s fifty day simple moving average is $476.26 and its 200 day simple moving average is $462.63. The firm has a market capitalization of $111.96 billion, a P/E ratio of -198.18, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the firm posted $4.76 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the business’s 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 sale, the executive vice president now owns 26,512 shares of the company’s stock, valued at $13,256,000. The trade was a 10.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ourania Tatsis sold 530 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were 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 directly owns 58,539 shares in the company, valued at $27,825,928.26. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,813 shares of company stock valued at $1,889,514. 0.20% of the stock is owned by company insiders.

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.