Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by PFG Investments LLC

PFG Investments LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,773 shares of the pharmaceutical company’s stock after purchasing an additional 31 shares during the quarter. PFG Investments LLC’s holdings in Vertex Pharmaceuticals were worth $825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Groesbeck Investment Management Corp NJ boosted its position in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of Vertex Pharmaceuticals by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after purchasing an additional 22 shares in the last quarter. Drive Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after purchasing an additional 22 shares during the period. Daymark Wealth Partners LLC lifted its holdings in Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after purchasing an additional 22 shares during the period. Finally, Grove Bank & Trust grew its position in Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after buying an additional 22 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.2 %

Shares of Vertex Pharmaceuticals stock opened at $477.70 on Monday. The firm has a market cap of $123.27 billion, a price-to-earnings ratio of 31.00 and a beta of 0.40. The stock has a 50-day simple moving average of $475.61 and a 200-day simple moving average of $462.73. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $3.53 earnings per share. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bruce I. Sachs sold 5,295 shares of the business’s 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 of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,005 shares of company stock valued at $5,988,066. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Guggenheim boosted their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, TD Cowen boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $492.92.

Vertex Pharmaceuticals 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.