Objective Capital Management LLC Makes New $254,000 Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Objective Capital Management LLC purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, HoldingsChannel reports. The firm purchased 546 shares of the pharmaceutical company’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in Vertex Pharmaceuticals by 36.2% during the 3rd quarter. Lindbrook Capital LLC now owns 29,632 shares of the pharmaceutical company’s stock worth $13,781,000 after acquiring an additional 7,872 shares in the last quarter. SpiderRock Advisors LLC increased its stake in Vertex Pharmaceuticals by 57.2% during the third quarter. SpiderRock Advisors LLC now owns 2,898 shares of the pharmaceutical company’s stock worth $1,348,000 after purchasing an additional 1,055 shares during the period. Equitable Trust Co. acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $244,000. CWA Asset Management Group LLC purchased a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $2,933,000. Finally, Leavell Investment Management Inc. grew its holdings in shares of Vertex Pharmaceuticals by 16.7% in the third quarter. Leavell Investment Management Inc. now owns 5,509 shares of the pharmaceutical company’s stock valued at $2,562,000 after purchasing an additional 790 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $516.74 on Friday. The firm’s fifty day moving average is $475.40 and its two-hundred day moving average is $468.01. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.26 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, 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 transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were 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 $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on VRTX. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday. StockNews.com raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Guggenheim boosted their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Piper Sandler raised 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. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $495.96.

Vertex Pharmaceuticals Company 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.