Edgestream Partners L.P. Has $1.25 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Edgestream Partners L.P. lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 78.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,666 shares of the pharmaceutical company’s stock after selling 9,988 shares during the quarter. Edgestream Partners L.P.’s holdings in Vertex Pharmaceuticals were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Groesbeck Investment Management Corp NJ lifted its position in shares of Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. lifted its position in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after buying an additional 22 shares during the period. Drive Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after buying an additional 22 shares during the period. RFP Financial Group LLC raised its position in Vertex Pharmaceuticals by 17.0% in the 2nd quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock valued at $74,000 after purchasing an additional 23 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its position in Vertex Pharmaceuticals by 2.5% in the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock valued at $407,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of several research analyst reports. HC Wainwright lifted their price objective on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reiterated a “buy” rating and issued a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Finally, Argus lifted their price objective on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and an average price target of $486.36.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other 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 sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at $20,320,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,047 shares of company stock valued at $16,843,806. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Down 2.7 %

Shares of Vertex Pharmaceuticals stock opened at $464.92 on Friday. 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 business has a fifty day simple moving average of $482.66 and a 200 day simple moving average of $451.87. The stock has a market cap of $119.97 billion, a PE ratio of 30.17 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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 net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the firm posted $3.53 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS 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.