Strategic Wealth Partners Ltd. Boosts Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Strategic Wealth Partners Ltd. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,201 shares of the pharmaceutical company’s stock after buying an additional 294 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Vertex Pharmaceuticals were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of VRTX. Brookstone Capital Management grew its stake in Vertex Pharmaceuticals by 11.1% in the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after purchasing an additional 237 shares during the period. Brevan Howard Capital Management LP lifted its holdings in shares of Vertex Pharmaceuticals by 216.3% during the fourth quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock valued at $1,965,000 after purchasing an additional 3,303 shares during the last quarter. Greenwood Capital Associates LLC boosted its position in shares of Vertex Pharmaceuticals by 11.3% in the 4th quarter. Greenwood Capital Associates LLC now owns 25,345 shares of the pharmaceutical company’s stock worth $10,313,000 after purchasing an additional 2,576 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services bought a new position in Vertex Pharmaceuticals during the 1st quarter valued at approximately $2,763,000. Finally, Creative Planning increased its holdings in shares of Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after acquiring an additional 3,998 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VRTX. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Canaccord Genuity Group lifted their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday. Piper Sandler increased 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. Finally, Guggenheim boosted 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $486.95.

Insiders Place Their Bets

In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,487 shares of company stock valued at $14,657,149 over the last 90 days. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 2.3 %

VRTX stock opened at $458.94 on Wednesday. The firm has a fifty day moving average price of $474.88 and a 200 day moving average price of $456.44. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The firm has a market cap of $118.45 billion, a PE ratio of 29.78 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.53 earnings per share. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal 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.