Dakota Wealth Management Grows Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Dakota Wealth Management raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,393 shares of the pharmaceutical company’s stock after purchasing an additional 4,042 shares during the quarter. Dakota Wealth Management’s holdings in Vertex Pharmaceuticals were worth $15,995,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VRTX. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $25,000. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at approximately $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth $31,000. Finally, Founders Capital Management boosted its position in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VRTX has been the topic of a number of research reports. Scotiabank assumed coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price target on the stock. Bank of America reduced their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Piper Sandler raised their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Guggenheim upped their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $492.92.

Vertex Pharmaceuticals Trading Up 0.4 %

NASDAQ VRTX opened at $471.91 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The company’s 50-day moving average price is $475.60 and its 200-day moving average price is $461.29. The stock has a market cap of $121.80 billion, a PE ratio of -232.47 and a beta of 0.40. 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 issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $3.53 earnings per share. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction on 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,005 shares of company stock valued at $5,988,066 in the last ninety days. Corporate 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.