Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 50.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 342 shares of the pharmaceutical company’s stock after acquiring an additional 114 shares during the period. Larson Financial Group LLC’s holdings in Vertex Pharmaceuticals were worth $160,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at $27,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $31,000. ICA Group Wealth Management LLC acquired a new position in Vertex Pharmaceuticals during the 4th quarter worth about $28,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $468.00 on Friday. The company has a fifty day moving average of $483.31 and a two-hundred day moving average of $448.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64. The company has a market capitalization of $120.77 billion, a PE ratio of 30.37 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned $3.53 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the sale, the chief marketing officer now owns 30,099 shares in the company, valued at approximately $14,198,300.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total value of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,615 shares of company stock worth $21,417,310. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, August 2nd. Guggenheim upped their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Morgan Stanley upped their price target on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $485.91.

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.