LRI Investments LLC Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

LRI Investments LLC boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6,372.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 712 shares of the pharmaceutical company’s stock after acquiring an additional 701 shares during the quarter. LRI Investments LLC’s holdings in Vertex Pharmaceuticals were worth $334,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Hohimer Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 0.8% during the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after buying an additional 24 shares during the period. Johnson Financial Group Inc. boosted its stake in Vertex Pharmaceuticals by 2.5% during the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock worth $407,000 after buying an additional 24 shares during the period. Quent Capital LLC boosted its stake in Vertex Pharmaceuticals by 6.0% during the second quarter. Quent Capital LLC now owns 423 shares of the pharmaceutical company’s stock worth $198,000 after buying an additional 24 shares during the period. Trust Co. of Vermont lifted its position in shares of Vertex Pharmaceuticals by 7.9% during the second quarter. Trust Co. of Vermont now owns 326 shares of the pharmaceutical company’s stock worth $153,000 after purchasing an additional 24 shares in the last quarter. Finally, Vestor Capital LLC lifted its position in shares of Vertex Pharmaceuticals by 10.8% during the fourth quarter. Vestor Capital LLC now owns 256 shares of the pharmaceutical company’s stock worth $104,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, EVP Ourania Tatsis sold 2,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the transaction, the executive vice president now directly owns 53,523 shares in the company, valued at $23,502,484.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ourania Tatsis sold 2,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the transaction, the executive vice president now owns 53,523 shares in the company, valued at $23,502,484.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,065 shares of company stock worth $22,731,946. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $481.24 on Friday. The firm has a market capitalization of $124.21 billion, a P/E ratio of 31.23 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52 week low of $340.83 and a 52 week high of $510.64. 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 firm’s 50 day moving average is $480.98 and its two-hundred day moving average is $444.24.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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). The company 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 revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.53 earnings per share. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Canaccord Genuity Group increased their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Argus increased their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Wells Fargo & Company increased their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Finally, Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Hold” and a consensus price target of $485.91.

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.