Gladstone Institutional Advisory LLC Sells 649 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Gladstone Institutional Advisory LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 49.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 664 shares of the pharmaceutical company’s stock after selling 649 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Vertex Pharmaceuticals were worth $309,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $29,000. Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $31,000. Finally, Founders Capital Management increased its position in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $472.80 on Tuesday. The firm has a 50-day moving average of $474.34 and a 200-day moving average of $466.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The stock has a market cap of $122.03 billion, a PE ratio of -232.91 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,710 shares of company stock worth $3,298,206. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VRTX. TD Cowen raised their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 target price for the company. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Oppenheimer decreased their target price on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $492.50.

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.