Chase Investment Counsel Corp Has $3.28 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Chase Investment Counsel Corp trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,063 shares of the pharmaceutical company’s stock after selling 1,185 shares during the period. Chase Investment Counsel Corp’s holdings in Vertex Pharmaceuticals were worth $3,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Piper Sandler raised their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group lifted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $495.96.

Vertex Pharmaceuticals Trading Down 2.3 %

NASDAQ VRTX opened at $490.00 on Wednesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $519.88. The business’s fifty day moving average is $475.81 and its 200 day moving average is $470.31. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The company has a market cap of $126.19 billion, a price-to-earnings ratio of -246.23 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.67 earnings per share. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction 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 owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was 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. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This 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.

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.