Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Private Wealth Partners LLC

Private Wealth Partners LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 61.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,425 shares of the pharmaceutical company’s stock after acquiring an additional 925 shares during the period. Private Wealth Partners LLC’s holdings in Vertex Pharmaceuticals were worth $1,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $31,000. Finally, Founders Capital Management boosted its holdings in shares of Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,710 shares of company stock valued at $3,298,206. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VRTX shares. Scotiabank started coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 target price for the company. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Guggenheim upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. Three 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 stock presently has a consensus rating of “Hold” and an average price target of $492.50.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $471.12 on Friday. The company has a 50-day simple moving average of $474.53 and a 200-day simple moving average of $464.95. 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 company has a market capitalization of $121.60 billion, a PE ratio of -232.08 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.53 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current fiscal 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.