Harmony Asset Management LLC Purchases Shares of 6,140 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Harmony Asset Management LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,140 shares of the pharmaceutical company’s stock, valued at approximately $2,878,000. Vertex Pharmaceuticals comprises 1.2% of Harmony Asset Management LLC’s investment portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Aveo Capital Partners LLC lifted its holdings in shares of Vertex Pharmaceuticals by 77.3% in the 4th quarter. Aveo Capital Partners LLC now owns 1,076 shares of the pharmaceutical company’s stock valued at $438,000 after buying an additional 469 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Vertex Pharmaceuticals by 26.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,978 shares of the pharmaceutical company’s stock valued at $805,000 after acquiring an additional 414 shares during the period. Trexquant Investment LP boosted its position in Vertex Pharmaceuticals by 161.2% in the 4th quarter. Trexquant Investment LP now owns 3,968 shares of the pharmaceutical company’s stock worth $1,615,000 after purchasing an additional 2,449 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $33,000. Finally, US Bancorp DE grew its stake in shares of Vertex Pharmaceuticals by 46.3% during the 4th quarter. US Bancorp DE now owns 19,162 shares of the pharmaceutical company’s stock worth $7,797,000 after purchasing an additional 6,065 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The disclosure for this sale can be found here. Insiders sold 34,047 shares of company stock worth $16,843,806 in the last 90 days. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Argus upped their price target on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Redburn Atlantic started coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $486.36.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $464.92 on Monday. 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’s fifty day moving average is $482.66 and its two-hundred day moving average is $452.40. The firm has a market capitalization of $119.97 billion, a P/E ratio of 30.17 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. 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 firm posted $3.53 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.