Moran Wealth Management LLC Has $12.06 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Moran Wealth Management LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,944 shares of the pharmaceutical company’s stock after buying an additional 866 shares during the quarter. Moran Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $12,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Edgewood Management LLC lifted its holdings in Vertex Pharmaceuticals by 7,876.3% during the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock worth $719,186,000 after buying an additional 1,526,983 shares in the last quarter. WCM Investment Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth about $435,899,000. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after purchasing an additional 851,054 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Vertex Pharmaceuticals by 169.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock worth $338,136,000 after buying an additional 528,029 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $459.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Truist Financial raised their price objective on Vertex Pharmaceuticals from $460.00 to $520.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. HC Wainwright reaffirmed a “buy” rating and set a $550.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $506.70.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 310 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the completion of the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,084 shares of company stock valued at $505,512 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

VRTX opened at $488.29 on Monday. 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’s fifty day moving average price is $448.27 and its two-hundred day moving average price is $461.15. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a market capitalization of $125.39 billion, a price-to-earnings ratio of -221.95, a P/E/G ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.