Callan Family Office LLC Buys New Position in Vertex Pharmaceuticals Incorporated $VRTX

Callan Family Office LLC bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,789 shares of the pharmaceutical company’s stock, valued at approximately $7,843,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shelter Mutual Insurance Co acquired a new position in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $13,710,000. Keating Financial Advisory Services Inc. acquired a new stake in Vertex Pharmaceuticals in the second quarter worth approximately $278,000. Green Alpha Advisors LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter valued at $274,000. OneAscent Family Office LLC bought a new position in Vertex Pharmaceuticals during the 2nd quarter valued at $270,000. Finally, OneAscent Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $211,000. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VRTX. UBS Group boosted their price objective on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Truist Financial lifted their target price on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. TD Cowen boosted their price target on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $563.50.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $548.05 on Friday. The stock has a market capitalization of $139.10 billion, a P/E ratio of 31.90, a P/E/G ratio of 2.24 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 1 year low of $374.17 and a 1 year high of $555.32. The business’s fifty day moving average is $492.65 and its two-hundred day moving average is $465.92.

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

Insider Transactions at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 596 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the sale, the chief marketing officer directly owned 15,337 shares of the company’s stock, valued at $7,400,102.50. This represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,464 shares of company stock valued at $4,959,397 over the last three months. Company insiders own 0.20% of the company’s stock.

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.