Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 74,015.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,626 shares of the pharmaceutical company’s stock after acquiring an additional 324,188 shares during the period. International Assets Investment Management LLC owned about 0.13% of Vertex Pharmaceuticals worth $150,977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at about $25,000. GHP Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $29,000. Annapolis Financial Services LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $27,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $31,000. Finally, Founders Capital Management boosted its holdings in shares of Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This represents 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 this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the transaction, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,005 shares of company stock valued at $5,988,066. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $477.70 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. 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 50 day moving average price of $475.60 and a 200 day moving average price of $461.36. The firm has a market capitalization of $123.27 billion, a price-to-earnings ratio of 31.00 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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 company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $3.53 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. UBS Group boosted their price objective on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Finally, HC Wainwright reissued a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average price target 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.