Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,497 shares of the pharmaceutical company’s stock after selling 5,361 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $23,950,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VRTX. Groesbeck Investment Management Corp NJ lifted its holdings in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after purchasing an additional 21 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 0.6% during the third quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. lifted its holdings in shares of Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after purchasing an additional 22 shares during the period. Drive Wealth Management LLC lifted its holdings in Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after acquiring an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC lifted its holdings in Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In other news, Director Sangeeta N. Bhatia sold 646 shares of the 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 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 27.46 % 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.

Vertex Pharmaceuticals Stock Down 3.8 %

VRTX opened at $465.70 on Monday. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $519.88. The business has a fifty day simple moving average of $476.39 and a 200-day simple moving average of $472.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. Citigroup initiated coverage on Vertex Pharmaceuticals in a research report on Thursday. They issued a “buy” rating and a $575.00 price objective for the company. Canaccord Genuity Group boosted their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Finally, Bank of America cut their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $499.12.

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.