West Family Investments Inc. Invests $842,000 in Vertex Pharmaceuticals Incorporated $VRTX

West Family Investments Inc. purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, Holdings Channel reports. The fund purchased 1,695 shares of the pharmaceutical company’s stock, valued at approximately $842,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its stake in Vertex Pharmaceuticals by 0.4% in the 2nd quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company’s stock worth $2,220,000 after acquiring an additional 20 shares in the last quarter. Earned Wealth Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after acquiring an additional 21 shares during the period. Confluence Wealth Services Inc. raised its stake in shares of Vertex Pharmaceuticals by 4.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after acquiring an additional 21 shares in the last quarter. Trust Point Inc. raised its stake in shares of Vertex Pharmaceuticals by 2.7% during the second quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company’s stock valued at $394,000 after acquiring an additional 21 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. boosted its holdings in shares of Vertex Pharmaceuticals by 1.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock valued at $524,000 after purchasing an additional 21 shares during the period. Institutional investors own 90.96% of the company’s stock.

Insider Activity

In related news, EVP Ourania Tatsis sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president owned 45,321 shares of the company’s stock, valued at $23,793,071.79. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00. Following the sale, the chief marketing officer directly owned 16,953 shares in the company, valued at approximately $7,628,850. The trade was a 19.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 10,464 shares of company stock worth $4,959,397. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on VRTX shares. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Barclays increased their price target on Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Vertex Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Finally, TD Cowen lifted their price objective on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $563.50.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $552.06 on Thursday. The firm’s 50 day moving average price is $488.69 and its 200-day moving average price is $464.85. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $553.69. The company has a market cap of $140.11 billion, a PE ratio of 32.13, a P/E/G ratio of 2.19 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.52 earnings per share. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.