MGO One Seven LLC Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

MGO One Seven LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 98.5% in the second quarter, Holdings Channel.com reports. The fund owned 3,221 shares of the pharmaceutical company’s stock after acquiring an additional 1,598 shares during the quarter. MGO One Seven LLC’s holdings in Vertex Pharmaceuticals were worth $1,510,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VRTX. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at $25,000. Annapolis Financial Services LLC bought a new stake in Vertex Pharmaceuticals during the 1st quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $28,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $31,000. Finally, Quest Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $33,000. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 directly 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 is accessible through this hyperlink. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at $52,767,484. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the sale, the chief marketing officer now directly owns 30,099 shares in the company, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,047 shares of company stock worth $16,843,806. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Argus raised their price target on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Royal Bank of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $485.91.

Vertex Pharmaceuticals Trading Up 0.8 %

NASDAQ VRTX opened at $478.65 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.85 and a 12-month high of $510.64. The company has a fifty day simple moving average of $483.50 and a two-hundred day simple moving average of $449.75. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a market cap of $123.52 billion, a P/E ratio of 31.06 and a beta of 0.40.

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