Prime Capital Investment Advisors LLC Has $1.58 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Prime Capital Investment Advisors LLC cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 17.9% during the second quarter, Holdings Channel reports. The institutional investor owned 3,378 shares of the pharmaceutical company’s stock after selling 734 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC bought a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $28,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Finally, Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $481.26 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64. The firm has a market cap of $124.19 billion, a price-to-earnings ratio of 31.23 and a beta of 0.40. The stock has a 50-day moving average price of $483.77 and a 200 day moving average price of $451.24.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share 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 business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm earned $3.53 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was 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 $4,987,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,987,006. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock worth $16,843,806 in the last three months. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Guggenheim raised their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler upped their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Redburn Atlantic assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $485.91.

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.