Avitas Wealth Management LLC Sells 89 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avitas Wealth Management LLC reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,180 shares of the pharmaceutical company’s stock after selling 89 shares during the period. Avitas Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Highview Capital Management LLC DE grew its position in Vertex Pharmaceuticals by 2.4% during the third quarter. Highview Capital Management LLC DE now owns 5,669 shares of the pharmaceutical company’s stock valued at $2,637,000 after acquiring an additional 134 shares during the last quarter. Fidelis Capital Partners LLC grew its position in Vertex Pharmaceuticals by 5.5% during the third quarter. Fidelis Capital Partners LLC now owns 5,465 shares of the pharmaceutical company’s stock valued at $2,569,000 after acquiring an additional 285 shares during the last quarter. GW Henssler & Associates Ltd. bought a new position in Vertex Pharmaceuticals during the third quarter valued at approximately $11,382,000. Integrated Advisors Network LLC grew its position in Vertex Pharmaceuticals by 11.3% during the third quarter. Integrated Advisors Network LLC now owns 3,753 shares of the pharmaceutical company’s stock valued at $1,746,000 after acquiring an additional 381 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Vertex Pharmaceuticals by 41.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 49,419 shares of the pharmaceutical company’s stock valued at $22,984,000 after acquiring an additional 14,564 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’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 transaction, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,710 shares of company stock worth $3,298,206. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $475.08 on Thursday. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. The stock has a 50-day moving average of $474.81 and a 200 day moving average of $463.87. The company has a market capitalization of $122.62 billion, a price-to-earnings ratio of -234.03 and a beta of 0.40. 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 released its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business posted $3.53 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VRTX. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. HC Wainwright reissued a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. 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 note on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Finally, Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Three investment 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, Vertex Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $492.50.

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.