Xponance Inc. Lowers Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Xponance Inc. lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,695 shares of the pharmaceutical company’s stock after selling 11,371 shares during the period. Xponance Inc.’s holdings in Vertex Pharmaceuticals were worth $22,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $25,000. Annapolis Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $28,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Finally, Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VRTX shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $431.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Oppenheimer lifted their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Redburn Atlantic initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price target for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $486.36.

Vertex Pharmaceuticals Stock Down 2.7 %

Vertex Pharmaceuticals stock opened at $464.92 on Monday. The business’s 50-day moving average price is $482.66 and its 200 day moving average price is $452.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The firm has a market cap of $119.97 billion, a price-to-earnings ratio of 30.17 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.85 and a 52 week high of $510.64.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of the firm’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 sale, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,047 shares of company stock valued at $16,843,806. Corporate insiders own 0.20% of the company’s stock.

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.