Arkadios Wealth Advisors Buys New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Arkadios Wealth Advisors bought a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 671 shares of the pharmaceutical company’s stock, valued at approximately $312,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $25,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $31,000. Founders Capital Management raised its holdings in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Finally, ZRC Wealth Management LLC acquired a new position in Vertex Pharmaceuticals in the 1st quarter valued at approximately $39,000. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’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 in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’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 completion of the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,710 shares of company stock worth $3,298,206. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.0 %

Shares of VRTX opened at $475.08 on Thursday. The firm has a market capitalization of $122.62 billion, a price-to-earnings ratio of -234.03 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. The business’s fifty day moving average price is $474.81 and its two-hundred day moving average price is $463.87. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The firm 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%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.53 earnings per share. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group upped their price target on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, October 8th. Guggenheim increased their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Canaccord Genuity Group increased 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. Finally, Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $492.50.

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.