Brookstone Capital Management Has $990,000 Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Brookstone Capital Management raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,368 shares of the pharmaceutical company’s stock after acquiring an additional 237 shares during the period. Brookstone Capital Management’s holdings in Vertex Pharmaceuticals were worth $990,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC increased its holdings in shares of Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 33 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $28,000. Fortitude Family Office LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $30,000. Finally, Baystate Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 49.0% in the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 2,350 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the transaction, the executive vice president now directly owns 53,523 shares in the company, valued at approximately $23,502,484.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Reshma Kewalramani sold 1,565 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $457.00, for a total value of $715,205.00. Following the transaction, the chief executive officer now owns 121,374 shares in the company, valued at approximately $55,467,918. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ourania Tatsis sold 2,350 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the transaction, the executive vice president now owns 53,523 shares in the company, valued at approximately $23,502,484.53. The disclosure for this sale can be found here. Insiders have sold 28,366 shares of company stock worth $13,058,787 in the last ninety days. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on VRTX shares. Canaccord Genuity Group reissued a “sell” rating and issued a $371.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. Redburn Atlantic initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday. They set a “buy” rating and a $545.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $462.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Oppenheimer reaffirmed an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Finally, BMO Capital Markets lifted their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $448.61.

Vertex Pharmaceuticals Trading Down 0.8 %

Shares of NASDAQ:VRTX opened at $468.72 on Friday. The company’s 50-day moving average price is $444.89 and its two-hundred day moving average price is $426.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. Vertex Pharmaceuticals Incorporated has a one year low of $335.82 and a one year high of $486.42. The stock has a market capitalization of $120.95 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 2.43 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping the consensus estimate of $3.66 by $1.10. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 EPS. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 EPS 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.