Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 521 shares of the pharmaceutical company’s stock after selling 100 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $244,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of VRTX. University of Texas Texas AM Investment Managment Co. purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $25,000. Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $28,000. Founders Capital Management grew its holdings 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 valued at $35,000 after purchasing an additional 25 shares during the period. Finally, Quest Partners LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. TD Cowen increased their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. HC Wainwright upped their price target on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $485.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 106,172 shares in the company, valued at $52,767,484. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ourania Tatsis sold 2,350 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the completion of the sale, the executive vice president now directly owns 53,523 shares of the company’s stock, valued at $23,502,484.53. The disclosure for this sale can be found here. Insiders have sold a total of 41,535 shares of company stock worth $20,238,002 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $480.30 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.83 and a 1 year high of $510.64. The stock has a market capitalization of $123.94 billion, a PE ratio of 31.17 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The stock has a 50-day simple moving average of $481.16 and a 200-day simple moving average of $444.83.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the firm earned $3.53 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share 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.