Global Retirement Partners LLC Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Global Retirement Partners LLC trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,456 shares of the pharmaceutical company’s stock after selling 291 shares during the period. Global Retirement Partners LLC’s holdings in Vertex Pharmaceuticals were worth $1,142,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Good Life Advisors LLC purchased a new position in Vertex Pharmaceuticals during the third quarter valued at $222,000. Wolff Wiese Magana LLC lifted its position in Vertex Pharmaceuticals by 254.5% during the third quarter. Wolff Wiese Magana LLC now owns 156 shares of the pharmaceutical company’s stock valued at $73,000 after purchasing an additional 112 shares during the last quarter. Transform Wealth LLC lifted its position in Vertex Pharmaceuticals by 2.3% during the third quarter. Transform Wealth LLC now owns 24,009 shares of the pharmaceutical company’s stock valued at $11,166,000 after purchasing an additional 530 shares during the last quarter. Sumitomo Life Insurance Co. lifted its position in Vertex Pharmaceuticals by 1.7% during the third quarter. Sumitomo Life Insurance Co. now owns 7,728 shares of the pharmaceutical company’s stock valued at $3,594,000 after purchasing an additional 128 shares during the last quarter. Finally, MN Wealth Advisors LLC lifted its position in Vertex Pharmaceuticals by 2.4% during the third quarter. MN Wealth Advisors LLC now owns 2,728 shares of the pharmaceutical company’s stock valued at $1,269,000 after purchasing an additional 65 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research 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 stock an “overweight” rating in a report on Friday, August 2nd. Finally, UBS Group raised their target price on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $492.92.

Vertex Pharmaceuticals Trading Down 3.2 %

NASDAQ VRTX opened at $483.00 on Friday. 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 company has a market capitalization of $124.64 billion, a price-to-earnings ratio of 31.34 and a beta of 0.40. The company’s 50-day simple moving average is $475.21 and its two-hundred day simple moving average is $459.87. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results 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 net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the business posted $3.53 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares of the company’s stock, valued at $52,767,484. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares of the company’s stock, valued at $52,767,484. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 completion of the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,487 shares of company stock valued at $14,657,149 in the last 90 days. Insiders own 0.20% of the company’s stock.

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.