Marcum Wealth LLC Buys 26 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Marcum Wealth LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,204 shares of the pharmaceutical company’s stock after acquiring an additional 26 shares during the period. Marcum Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $560,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Daymark Wealth Partners LLC raised its holdings in shares of Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after purchasing an additional 22 shares during the period. Barlow Wealth Partners Inc. increased its position in Vertex Pharmaceuticals by 1.2% in the third quarter. Barlow Wealth Partners Inc. now owns 47,572 shares of the pharmaceutical company’s stock worth $21,341,000 after buying an additional 563 shares during the last quarter. Connective Portfolio Management LLC raised its stake in shares of Vertex Pharmaceuticals by 227.8% in the third quarter. Connective Portfolio Management LLC now owns 13,110 shares of the pharmaceutical company’s stock valued at $6,097,000 after buying an additional 9,110 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $47,000. Finally, Strategic Wealth Partners Ltd. grew its stake in shares of Vertex Pharmaceuticals by 10.1% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 3,201 shares of the pharmaceutical company’s stock worth $1,489,000 after acquiring an additional 294 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 1.7 %

VRTX stock opened at $476.15 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. The company’s 50 day moving average price is $474.33 and its two-hundred day moving average price is $456.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The business had revenue of $2.65 billion for 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%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.53 earnings per share. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction that occurred on 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 owns 9,994 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on 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 owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,487 shares of company stock worth $14,657,149 in the last ninety days. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 target price on the stock. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday. Finally, TD Cowen increased their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $486.95.

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.