Bleakley Financial Group LLC Has $3.53 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Bleakley Financial Group LLC decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 72.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,579 shares of the pharmaceutical company’s stock after selling 19,448 shares during the quarter. Bleakley Financial Group LLC’s holdings in Vertex Pharmaceuticals were worth $3,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its position in Vertex Pharmaceuticals by 25.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 863 shares of the pharmaceutical company’s stock valued at $361,000 after purchasing an additional 175 shares during the last quarter. RFG Advisory LLC lifted its stake in Vertex Pharmaceuticals by 30.5% in the first quarter. RFG Advisory LLC now owns 1,415 shares of the pharmaceutical company’s stock valued at $591,000 after acquiring an additional 331 shares during the last quarter. MJP Associates Inc. ADV acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth about $227,000. Cooper Financial Group raised its holdings in shares of Vertex Pharmaceuticals by 12.4% in the 1st quarter. Cooper Financial Group now owns 3,627 shares of the pharmaceutical company’s stock valued at $1,516,000 after purchasing an additional 400 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at about $56,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at $11,088,728.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,487 shares of company stock valued at $14,657,149 in the last three months. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $483.00 on Friday. 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 stock has a market cap of $124.64 billion, a PE ratio of 31.34 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The business has a 50-day simple moving average of $475.21 and a two-hundred day simple moving average of $459.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business earned $3.53 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Guggenheim lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reissued a “buy” rating and issued a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $492.92.

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.