Sagespring Wealth Partners LLC Invests $925,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sagespring Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,296 shares of the pharmaceutical company's stock, valued at approximately $925,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisory Resource Group lifted its holdings in shares of Vertex Pharmaceuticals by 3.2% in the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock worth $916,000 after buying an additional 61 shares in the last quarter. Anchor Investment Management LLC boosted its stake in Vertex Pharmaceuticals by 1,352.3% during the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock valued at $736,000 after buying an additional 1,474 shares during the last quarter. World Investment Advisors LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $24,280,000. Wilmington Savings Fund Society FSB bought a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $2,187,000. Finally, Destination Wealth Management increased its position in Vertex Pharmaceuticals by 4.5% in the third quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock worth $1,563,000 after purchasing an additional 144 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on VRTX. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and lifted their price target for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Bank of America upped their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Piper Sandler cut their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Finally, Oppenheimer lowered shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Ten analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $512.41.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 244 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now owns 67,695 shares of the company's stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now directly owns 26,512 shares in the company, valued at $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock valued at $2,121,012 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 0.7 %

VRTX traded up $3.21 during midday trading on Friday, hitting $489.10. The company's stock had a trading volume of 1,205,462 shares, compared to its average volume of 1,328,900. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88. The firm has a market cap of $125.60 billion, a P/E ratio of -222.32, a PEG ratio of 2.11 and a beta of 0.50. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $486.09 and a two-hundred day moving average price of $465.07.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced 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%. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.