Tobam Sells 1,358 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tobam trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 68.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 625 shares of the pharmaceutical company’s stock after selling 1,358 shares during the period. Tobam’s holdings in Vertex Pharmaceuticals were worth $293,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in VRTX. University of Texas Texas AM Investment Managment Co. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at about $25,000. Annapolis Financial Services LLC bought a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $27,000. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth approximately $28,000. Founders Capital Management increased 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 last quarter. Finally, Quest Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth about $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on VRTX shares. TD Cowen boosted their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Guggenheim increased their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their target price on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Finally, Redburn Atlantic assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Hold” and a consensus target price of $485.91.

Vertex Pharmaceuticals Trading Up 0.7 %

VRTX stock traded up $3.61 during trading on Friday, reaching $496.96. 320,394 shares of the stock traded hands, compared to its average volume of 1,198,034. Vertex Pharmaceuticals Incorporated has a 52-week low of $340.83 and a 52-week high of $510.64. The business’s 50 day moving average price is $481.87 and its 200-day moving average price is $445.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The firm has a market capitalization of $128.27 billion, a PE ratio of 32.26 and a beta of 0.39.

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 analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.53 EPS. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total value of $1,075,521.60. Following the sale, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were 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 of the company’s stock, valued at approximately $52,767,484. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now owns 30,099 shares in the company, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. Insiders have sold a total of 39,185 shares of company stock worth $19,206,094 in the last quarter. 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.