Quest Partners LLC Sells 2,389 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Quest Partners LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 96.6% during the second quarter, Holdings Channel.com reports. The fund owned 83 shares of the pharmaceutical company’s stock after selling 2,389 shares during the quarter. Quest Partners LLC’s holdings in Vertex Pharmaceuticals were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Groesbeck Investment Management Corp NJ raised its position in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. increased its stake in Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after buying an additional 22 shares in the last quarter. Drive Wealth Management LLC raised its holdings in 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 acquiring an additional 22 shares during the period. RFP Financial Group LLC lifted its position in shares of Vertex Pharmaceuticals by 17.0% in the second quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock valued at $74,000 after acquiring an additional 23 shares in the last quarter. Finally, Hohimer Wealth Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 0.8% in the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the transaction, the chief marketing officer now owns 30,099 shares in the company, valued at $14,198,300.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,047 shares of company stock worth $16,843,806. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Canaccord Genuity Group boosted their price target on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Piper Sandler raised their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $486.36.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $477.90 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.85 and a twelve month high of $510.64. The firm has a market cap of $123.35 billion, a price-to-earnings ratio of 31.01 and a beta of 0.40. The business’s fifty day simple moving average is $483.14 and its two-hundred day simple moving average is $451.58. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly 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 company 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 company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.53 EPS. Analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

About Vertex Pharmaceuticals

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.