Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is Barlow Wealth Partners Inc.’s 9th Largest Position

Barlow Wealth Partners Inc. grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 47,572 shares of the pharmaceutical company’s stock after buying an additional 563 shares during the period. Vertex Pharmaceuticals accounts for 2.8% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 9th largest position. Barlow Wealth Partners Inc.’s holdings in Vertex Pharmaceuticals were worth $21,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Groesbeck Investment Management Corp NJ lifted its stake in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. lifted its position in Vertex Pharmaceuticals by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after purchasing an additional 22 shares during the period. Drive Wealth Management LLC lifted its position in Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after purchasing an additional 22 shares during the period. RFP Financial Group LLC lifted its position in Vertex Pharmaceuticals by 17.0% in the second quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock worth $74,000 after purchasing an additional 23 shares during the period. Finally, Quent Capital LLC lifted its position in Vertex Pharmaceuticals by 6.0% in the second quarter. Quent Capital LLC now owns 423 shares of the pharmaceutical company’s stock worth $198,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VRTX shares. Oppenheimer raised their price objective on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $486.95.

Vertex Pharmaceuticals Price Performance

Shares of VRTX traded up $2.17 on Wednesday, hitting $461.11. The company’s stock had a trading volume of 47,430 shares, compared to its average volume of 1,174,060. The company has a market capitalization of $119.01 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 current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The company has a 50 day moving average price of $474.88 and a 200 day moving average price of $456.44.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the sale, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were 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 owns 106,172 shares of the company’s stock, valued at $52,767,484. The trade was a 0.00 % decrease in their position. 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 business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the completion of the transaction, the chief marketing officer now directly owns 25,539 shares of the company’s stock, valued at $12,474,779.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,487 shares of company stock worth $14,657,149. Insiders own 0.20% of the company’s stock.

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.