Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 563 shares of the pharmaceutical company’s stock after purchasing an additional 40 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $29,000. Annapolis Financial Services LLC purchased a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $27,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth approximately $31,000. Founders Capital Management lifted its stake in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the sale, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Reshma Kewalramani sold 15,202 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,487 shares of company stock worth $14,657,149 in the last ninety days. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on VRTX shares. Royal Bank of Canada reduced their price target on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Guggenheim raised their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Hold” and an average price target of $492.92.

Vertex Pharmaceuticals Stock Down 3.2 %

Vertex Pharmaceuticals stock opened at $483.00 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The firm has a market capitalization of $124.64 billion, a price-to-earnings ratio of 31.34 and a beta of 0.40. The stock’s fifty day moving average is $475.21 and its two-hundred day moving average is $459.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

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). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company posted $3.53 earnings per share. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

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.