Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Private Wealth Partners LLC

Private Wealth Partners LLC grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 61.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,425 shares of the pharmaceutical company’s stock after purchasing an additional 925 shares during the quarter. Private Wealth Partners LLC’s holdings in Vertex Pharmaceuticals were worth $1,128,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $31,000. Finally, Founders Capital Management lifted 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 worth $35,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction dated 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 sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 sale, the director now 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. Over the last three months, insiders have sold 6,710 shares of company stock worth $3,298,206. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $471.12 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The stock has a market capitalization of $121.60 billion, a price-to-earnings 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 stock’s fifty day moving average is $474.53 and its two-hundred day moving average is $464.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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 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%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.53 earnings per share. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRTX. UBS Group increased their price objective on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial restated a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $492.50.

Vertex Pharmaceuticals Company 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.