Stonegate Investment Group LLC Sells 274 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Stonegate Investment Group LLC cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,468 shares of the pharmaceutical company’s stock after selling 274 shares during the period. Stonegate Investment Group LLC’s holdings in Vertex Pharmaceuticals were worth $3,008,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VRTX. Annapolis Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth about $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $31,000. Founders Capital Management lifted its stake 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 worth $35,000 after buying an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth $39,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s 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 sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,487 shares of company stock worth $14,657,149. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 3.0 %

Shares of NASDAQ:VRTX traded down $15.00 during midday trading on Friday, reaching $483.73. 449,463 shares of the company were exchanged, compared to its average volume of 1,168,875. The firm has a market cap of $124.83 billion, a PE ratio of 31.34 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The stock has a fifty day simple moving average of $474.92 and a two-hundred day simple moving average of $459.08. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) 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 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%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.53 EPS. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. HC Wainwright boosted their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company raised their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. JPMorgan Chase & Co. increased their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group increased their price objective on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Hold” and an average target price 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.