Highland Capital Management LLC Sells 239 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Highland Capital Management LLC reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,236 shares of the pharmaceutical company’s stock after selling 239 shares during the quarter. Highland Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,900,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $25,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $27,000. Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management boosted its holdings in shares of Vertex Pharmaceuticals by 50.0% in the 2nd 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. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on VRTX shares. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. UBS Group lifted their price target on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Guggenheim boosted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Bank of America decreased 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. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $492.92.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction 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 sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade 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 worth $5,988,066 in the last three months. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 1.2 %

Shares of VRTX stock opened at $477.70 on Friday. 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 Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The company has a market cap of $123.27 billion, a PE ratio of 31.00 and a beta of 0.40. The stock’s fifty day moving average price is $475.61 and its two-hundred day moving average price is $462.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate 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 was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.53 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

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.