Evermay Wealth Management LLC Sells 213 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Evermay Wealth Management LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 69.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93 shares of the pharmaceutical company’s stock after selling 213 shares during the quarter. Evermay Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Groesbeck Investment Management Corp NJ grew its holdings in Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares during the period. Mutual Advisors LLC boosted its position in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares in the last quarter. Institute for Wealth Management LLC. grew its stake in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after purchasing an additional 22 shares during the period. Drive Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after purchasing an additional 22 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its stake in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after purchasing an additional 22 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on VRTX. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. UBS Group increased their price target on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Oppenheimer cut their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Wednesday. Canaccord Genuity Group increased their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $492.50.

Vertex Pharmaceuticals Trading Up 1.0 %

Shares of VRTX opened at $475.08 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The firm has a market capitalization of $122.62 billion, a P/E ratio of -234.03 and a beta of 0.40. The firm has a 50-day moving average price of $474.81 and a 200 day moving average price of $463.87. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $3.53 EPS. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares in the company, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,710 shares of company stock worth $3,298,206. Company insiders own 0.20% of the company’s stock.

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.