PDS Planning Inc Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

PDS Planning Inc increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 842 shares of the pharmaceutical company’s stock after purchasing an additional 27 shares during the quarter. PDS Planning Inc’s holdings in Vertex Pharmaceuticals were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norden Group LLC lifted its stake in shares of Vertex Pharmaceuticals by 61.3% in the 1st quarter. Norden Group LLC now owns 992 shares of the pharmaceutical company’s stock worth $415,000 after acquiring an additional 377 shares during the period. Choreo LLC bought a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $205,000. Quent Capital LLC increased its stake in Vertex Pharmaceuticals by 33.0% during the first quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company’s stock valued at $167,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. raised its stake in shares of Vertex Pharmaceuticals by 5.2% in the first quarter. Whittier Trust Co. now owns 1,325 shares of the pharmaceutical company’s stock valued at $554,000 after purchasing an additional 65 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of Vertex Pharmaceuticals by 4.3% during the 1st quarter. Proficio Capital Partners LLC now owns 823 shares of the pharmaceutical company’s stock valued at $344,000 after acquiring an additional 34 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.4 %

NASDAQ:VRTX opened at $472.80 on Tuesday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The business has a 50 day simple moving average of $474.34 and a 200-day simple moving average of $466.02. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64.

Insider Activity

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’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 owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief marketing officer now directly owns 23,259 shares in the company, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,710 shares of company stock valued at $3,298,206. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

VRTX has been the subject of a number of research analyst reports. Guggenheim lifted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Royal Bank of Canada cut their price objective on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Three research 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.