Advisor Resource Council Acquires New Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Advisor Resource Council acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 519 shares of the pharmaceutical company’s stock, valued at approximately $241,000.

Other hedge funds also recently bought and sold shares of the company. Graypoint LLC grew its stake in Vertex Pharmaceuticals by 3.5% in the 3rd quarter. Graypoint LLC now owns 3,006 shares of the pharmaceutical company’s stock worth $1,398,000 after buying an additional 101 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $227,000. Forte Capital LLC ADV grew its stake in Vertex Pharmaceuticals by 1,852.2% in the 3rd quarter. Forte Capital LLC ADV now owns 12,201 shares of the pharmaceutical company’s stock worth $5,674,000 after buying an additional 11,576 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Vertex Pharmaceuticals by 35.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 2,072 shares of the pharmaceutical company’s stock worth $964,000 after buying an additional 541 shares in the last quarter. Finally, Wisconsin Capital Management LLC grew its stake in Vertex Pharmaceuticals by 183.5% in the 3rd quarter. Wisconsin Capital Management LLC now owns 7,121 shares of the pharmaceutical company’s stock worth $3,312,000 after buying an additional 4,609 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the company’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 sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of the 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 directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a research note on Tuesday. UBS Group upped their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday. Finally, Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $495.96.

Vertex Pharmaceuticals Stock Up 1.8 %

Shares of NASDAQ VRTX opened at $502.45 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.26 and a current ratio of 2.47. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The firm has a fifty day simple moving average of $474.81 and a two-hundred day simple moving average of $466.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.67 EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current year.

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.