Wedmont Private Capital Buys 65 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Wedmont Private Capital raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,249 shares of the pharmaceutical company’s stock after purchasing an additional 65 shares during the quarter. Wedmont Private Capital’s holdings in Vertex Pharmaceuticals were worth $1,458,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at $25,000. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management boosted its position in shares of Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 40,000 shares in the company, valued at $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 4,435 shares in the company, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,487 shares of company stock worth $14,657,149. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.7 %

Shares of VRTX stock opened at $476.15 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $510.64. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $474.33 and a two-hundred day simple moving average of $456.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share 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 return on equity of 2.45% and a negative net margin of 4.74%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $3.53 earnings per share. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VRTX shares. Canaccord Genuity Group boosted their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Guggenheim boosted their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. TD Cowen raised 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. Finally, Oppenheimer boosted their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $486.95.

About Vertex Pharmaceuticals

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.