Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Lessened by Future Fund LLC

Future Fund LLC reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,702 shares of the pharmaceutical company’s stock after selling 482 shares during the quarter. Vertex Pharmaceuticals accounts for 2.4% of Future Fund LLC’s portfolio, making the stock its 21st largest position. Future Fund LLC’s holdings in Vertex Pharmaceuticals were worth $802,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter worth $25,000. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals during the third quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals during the second quarter valued at $29,000. Stephens Consulting LLC acquired a new stake in Vertex Pharmaceuticals during the second quarter valued at $31,000. Finally, Founders Capital Management boosted its position in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $490.00 on Wednesday. The business’s 50-day moving average price is $475.52 and its two-hundred day moving average price is $469.66. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during 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%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.67 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares of the company’s stock, 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. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

VRTX has been the topic of several recent research reports. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Guggenheim raised their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. HC Wainwright reiterated a “buy” rating and issued a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Scotiabank lifted their price objective on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada lifted their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $495.96.

Vertex Pharmaceuticals 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.