Park Place Capital Corp Sells 507 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Park Place Capital Corp reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 39.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 792 shares of the pharmaceutical company’s stock after selling 507 shares during the quarter. Park Place Capital Corp’s holdings in Vertex Pharmaceuticals were worth $331,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of VRTX. Claro Advisors LLC increased its holdings in Vertex Pharmaceuticals by 7.7% in the first quarter. Claro Advisors LLC now owns 1,363 shares of the pharmaceutical company’s stock valued at $570,000 after purchasing an additional 98 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 49.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,470 shares of the pharmaceutical company’s stock valued at $1,869,000 after buying an additional 1,479 shares during the period. Little House Capital LLC raised its stake in Vertex Pharmaceuticals by 7.7% during the 1st quarter. Little House Capital LLC now owns 2,499 shares of the pharmaceutical company’s stock worth $1,045,000 after buying an additional 179 shares during the period. LVW Advisors LLC bought a new position in Vertex Pharmaceuticals during the first quarter worth about $256,000. Finally, SteelPeak Wealth LLC increased its holdings in shares of Vertex Pharmaceuticals by 7.2% in the first quarter. SteelPeak Wealth LLC now owns 21,495 shares of the pharmaceutical company’s stock worth $8,985,000 after acquiring an additional 1,436 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $17,920,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Reshma Kewalramani sold 1,565 shares of the 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 sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at approximately $55,467,918. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bruce I. Sachs sold 7,073 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total value of $3,168,704.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,366 shares of company stock worth $13,058,787. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Argus raised their price objective on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Piper Sandler boosted their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. BMO Capital Markets increased their price objective on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. HC Wainwright reaffirmed a “buy” rating and set a $462.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 7th. Finally, Guggenheim lifted their target price on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $448.61.

Vertex Pharmaceuticals Stock Up 0.5 %

Vertex Pharmaceuticals stock opened at $471.25 on Tuesday. The firm has a 50 day moving average price of $444.89 and a 200 day moving average price of $426.80. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $335.82 and a fifty-two week high of $486.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The company has a market capitalization of $121.61 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business posted $2.67 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

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.