Financial Advocates Investment Management Acquires 479 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Financial Advocates Investment Management lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 17.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,148 shares of the pharmaceutical company’s stock after acquiring an additional 479 shares during the quarter. Financial Advocates Investment Management’s holdings in Vertex Pharmaceuticals were worth $1,464,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VRTX. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $25,000. Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $31,000. Finally, Founders Capital Management boosted its holdings 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 in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’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 owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’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 value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’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 completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,710 shares of company stock valued at $3,298,206. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.2 %

Shares of VRTX opened at $475.98 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. The stock has a 50 day moving average price of $474.73 and a two-hundred day moving average price of $463.95. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.53 earnings per share. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Bank of America cut their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Piper Sandler lifted their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $492.50.

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.