Physician Wealth Advisors Inc. Sells 27 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Physician Wealth Advisors Inc. lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 530 shares of the pharmaceutical company’s stock after selling 27 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Vertex Pharmaceuticals were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of VRTX. Annapolis Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals during the second quarter valued at approximately $29,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals in the second quarter worth approximately $31,000. Founders Capital Management boosted its stake 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 worth $35,000 after acquiring an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VRTX. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Truist Financial reiterated a “buy” rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. HC Wainwright raised their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Guggenheim upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley raised their price objective 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. Three 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $488.92.

Vertex Pharmaceuticals Stock Up 0.6 %

Shares of NASDAQ:VRTX opened at $487.25 on Thursday. The company has a market cap of $125.76 billion, a price-to-earnings ratio of -240.02 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 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 company has a 50-day moving average price of $474.27 and a 200 day moving average price of $458.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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 company had revenue of $2.65 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $3.53 earnings per share. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction 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 represents 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 29,487 shares of company stock valued at $14,657,149. Company 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.