SVB Wealth LLC Invests $6.11 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

SVB Wealth LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 15,163 shares of the pharmaceutical company's stock, valued at approximately $6,106,000.

Other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC grew its holdings in shares of Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 24 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Truvestments Capital LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter worth $35,000. Finally, Capital Performance Advisors LLP acquired a new position in Vertex Pharmaceuticals during the third quarter worth $39,000. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the sale, the executive vice president now owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 1,084 shares of company stock worth $505,512 over the last quarter. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRTX shares. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Friday, January 31st. Piper Sandler dropped their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Oppenheimer downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research report on Thursday, December 19th. Bank of America reduced their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, Scotiabank lifted their target price on Vertex Pharmaceuticals from $433.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $506.70.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded up $5.42 on Wednesday, hitting $491.64. 1,147,335 shares of the company's stock were exchanged, compared to its average volume of 1,495,791. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The stock has a 50-day moving average of $445.18 and a 200-day moving average of $461.33. 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 stock has a market cap of $126.25 billion, a price-to-earnings ratio of -223.47, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) 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%. Analysts expect 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.