Tealwood Asset Management Inc. Acquires Shares of 3,613 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tealwood Asset Management Inc. bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,613 shares of the pharmaceutical company’s stock, valued at approximately $1,680,000.

A number of other large investors have also made changes to their positions in VRTX. Brookstone Capital Management grew its holdings in Vertex Pharmaceuticals by 11.1% in the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after buying an additional 237 shares in the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of Vertex Pharmaceuticals by 216.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock valued at $1,965,000 after purchasing an additional 3,303 shares during the period. Greenwood Capital Associates LLC increased its position in Vertex Pharmaceuticals by 11.3% during the fourth quarter. Greenwood Capital Associates LLC now owns 25,345 shares of the pharmaceutical company’s stock worth $10,313,000 after purchasing an additional 2,576 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services purchased a new position in Vertex Pharmaceuticals during the first quarter worth about $2,763,000. Finally, Creative Planning boosted its holdings in Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the sale, the chief executive officer now owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s 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 sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,767 shares of company stock worth $15,768,284. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Truist Financial restated a “buy” rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Canaccord Genuity Group increased 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. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Guggenheim increased their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $486.95.

Vertex Pharmaceuticals Stock Up 1.3 %

NASDAQ VRTX traded up $5.97 during trading hours on Tuesday, hitting $454.57. 543,396 shares of the company were exchanged, compared to its average volume of 1,175,734. The company has a 50 day moving average of $475.76 and a two-hundred day moving average of $456.14. 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 $117.32 billion, a price-to-earnings ratio of 29.54 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share 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 analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company posted $3.53 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 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.