Strategic Financial Concepts LLC Invests $8.11 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Strategic Financial Concepts LLC bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 20,136 shares of the pharmaceutical company's stock, valued at approximately $8,109,000.

Other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $25,000. Dunhill Financial LLC lifted its holdings in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $33,000. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on VRTX. Royal Bank of Canada lifted their price target on shares of Vertex Pharmaceuticals from $402.00 to $407.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Wells Fargo & Company downgraded Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $460.00 target price on the stock. in a research report on Thursday, January 30th. Jefferies Financial Group raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $500.00 to $550.00 in a research note on Monday, December 9th. Piper Sandler lowered their target price on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 21st. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $505.57.

Vertex Pharmaceuticals Trading Up 2.1 %

Shares of NASDAQ:VRTX traded up $9.65 during trading on Wednesday, reaching $471.76. 1,454,541 shares of the company were exchanged, compared to its average volume of 1,543,211. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. The firm has a market capitalization of $121.14 billion, a PE ratio of -214.44, a P/E/G ratio of 2.02 and a beta of 0.41. The business's fifty day simple moving average is $435.25 and its 200-day simple moving average is $460.44. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its 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 net margin of 4.86% and a negative return on equity of 2.02%. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 EPS for the current year.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 310 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the sale, the executive vice president now owns 64,021 shares in the company, valued at approximately $29,438,776.43. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

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.