TrueWealth Advisors LLC Buys New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

TrueWealth Advisors LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 766 shares of the pharmaceutical company’s stock, valued at approximately $356,000.

Several other institutional investors have also recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Stephens Consulting LLC purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $31,000. Finally, Founders Capital Management grew its holdings in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.0 %

NASDAQ VRTX traded down $4.86 on Friday, reaching $471.12. The company had a trading volume of 1,352,751 shares, compared to its average volume of 1,007,378. The firm has a market capitalization of $121.60 billion, a PE ratio of -232.08 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. The firm has a 50-day moving average of $474.53 and a 200-day moving average of $464.95. 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 (NASDAQ:VRTX) last released its quarterly earnings results 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). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company earned $3.53 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, October 8th. Finally, Piper Sandler lifted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $492.50.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the transaction, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the transaction, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 6,710 shares of company stock valued at $3,298,206 in the last three months. 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.