Davidson Capital Management Inc. Decreases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Davidson Capital Management Inc. lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,531 shares of the pharmaceutical company’s stock after selling 674 shares during the quarter. Davidson Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $3,037,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GW Henssler & Associates Ltd. bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at about $11,382,000. Integrated Advisors Network LLC lifted its position in Vertex Pharmaceuticals by 11.3% in the third quarter. Integrated Advisors Network LLC now owns 3,753 shares of the pharmaceutical company’s stock valued at $1,746,000 after purchasing an additional 381 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Vertex Pharmaceuticals by 41.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 49,419 shares of the pharmaceutical company’s stock valued at $22,984,000 after purchasing an additional 14,564 shares during the last quarter. Traynor Capital Management Inc. purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $235,000. Finally, Smith Group Asset Management LLC increased its stake in shares of Vertex Pharmaceuticals by 1.7% during the third quarter. Smith Group Asset Management LLC now owns 43,659 shares of the pharmaceutical company’s stock valued at $20,305,000 after buying an additional 749 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the topic of several recent research reports. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Canaccord Genuity Group increased their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Guggenheim upped their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Oppenheimer increased their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $492.92.

Vertex Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ:VRTX traded down $1.05 on Tuesday, reaching $475.32. The company had a trading volume of 149,940 shares, compared to its average volume of 1,163,071. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The firm’s 50 day simple moving average is $475.37 and its 200-day simple moving average is $463.27. 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 firm has a market capitalization of $122.68 billion, a PE ratio of -234.67 and a beta of 0.40.

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 analysts’ consensus estimates of ($12.54) by ($0.29). The company 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 last year, the company earned $3.53 earnings per share. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $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 SEC, which is accessible through this link. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction on 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 owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,005 shares of company stock worth $5,988,066 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

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.