Venturi Wealth Management LLC Boosts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Venturi Wealth Management LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 141.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,112 shares of the pharmaceutical company's stock after buying an additional 3,580 shares during the period. Venturi Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $2,461,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. Dunhill Financial LLC lifted its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $33,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 244 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the transaction, the executive vice president now owns 67,695 shares in the company, valued at approximately $30,805,286.70. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent research reports. Barclays raised their target price on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Citigroup began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They issued a "buy" rating and a $575.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $550.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $505.61.

Vertex Pharmaceuticals Stock Performance

VRTX traded up $3.91 during trading hours on Friday, hitting $484.24. The stock had a trading volume of 1,444,007 shares, compared to its average volume of 1,541,286. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company's fifty day simple moving average is $436.05 and its 200 day simple moving average is $460.70. The stock has a market cap of $124.35 billion, a PE ratio of -220.11, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data 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%. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.58 earnings per share for the current year.

About Vertex Pharmaceuticals

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.