Massmutual Trust Co. FSB ADV Purchases 1,607 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Massmutual Trust Co. FSB ADV increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 161.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,601 shares of the pharmaceutical company’s stock after purchasing an additional 1,607 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Vertex Pharmaceuticals were worth $1,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals in the fourth quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the second quarter worth approximately $29,000. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $27,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals in the second quarter worth approximately $31,000. Finally, Founders Capital Management grew its stake in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on VRTX shares. Oppenheimer increased their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Morgan Stanley increased their target price on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a research report on Tuesday. Wells Fargo & Company increased their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, Guggenheim increased their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $486.95.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,767 shares of company stock worth $15,768,284. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $455.31 on Friday. The firm has a market capitalization of $117.52 billion, a price-to-earnings ratio of 29.55 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The business has a fifty day moving average of $476.75 and a 200 day moving average of $455.32. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $3.53 EPS. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 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.