Good Life Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the third quarter, Holdings Channel.com reports. The fund acquired 478 shares of the pharmaceutical company’s stock, valued at approximately $222,000.
A number of other institutional investors have also added to or reduced their stakes in VRTX. Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $31,000. Founders Capital Management raised its stake in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC purchased a new position in Vertex Pharmaceuticals during the first quarter valued at $39,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.
Insider Transactions at Vertex Pharmaceuticals
In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’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 transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals 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 completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’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 value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,285 shares of company stock worth $7,101,755 in the last three months. 0.20% of the stock is currently owned by company insiders.
Vertex Pharmaceuticals Stock Down 3.2 %
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last posted 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 net margin of 4.74% and a negative return on equity of 2.45%. The company 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. The firm’s revenue was up 6.1% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.
Analyst Ratings Changes
VRTX has been the topic of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Piper Sandler raised their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Wells Fargo & Company raised their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $492.92.
Read Our Latest Analysis on Vertex Pharmaceuticals
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.
See Also
- Five stocks we like better than Vertex Pharmaceuticals
- How to Choose Top Rated Stocks
- Is Spotify Stock Poised to Soar? Options Traders Think So
- What is Put Option Volume?
- Misses and Beats: 3 Stocks That Are Moving Markets Right Now
- Manufacturing Stocks Investing
- Cisco on the Rise: AI Potential and Analyst Upgrades Drive Gains
Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report).
Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.