Private Advisor Group LLC Sells 977 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Private Advisor Group LLC decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,244 shares of the pharmaceutical company’s stock after selling 977 shares during the quarter. Private Advisor Group LLC’s holdings in Vertex Pharmaceuticals were worth $3,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the third quarter valued at $25,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Stephens Consulting LLC purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $31,000. Founders Capital Management lifted its stake in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ:VRTX opened at $477.70 on Monday. The business’s 50-day moving average is $475.61 and its 200 day moving average is $462.73. 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 1 year low of $341.90 and a 1 year high of $510.64. The firm has a market capitalization of $123.27 billion, a P/E ratio of 31.00 and a beta of 0.40.

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 for the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.53 EPS. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated 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 approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,005 shares of company stock valued at $5,988,066. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent analyst reports. TD Cowen boosted their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Guggenheim upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Piper Sandler lifted their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $492.92.

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.