Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 47.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 428 shares of the pharmaceutical company’s stock after selling 388 shares during the quarter. FineMark National Bank & Trust’s holdings in Vertex Pharmaceuticals were worth $201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. 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 purchasing an additional 21 shares during the last quarter. Institute for Wealth Management LLC. raised its stake 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 valued at $1,681,000 after buying an additional 22 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in 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 last quarter. RFP Financial Group LLC boosted its position in shares of Vertex Pharmaceuticals by 17.0% during the 2nd quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock worth $74,000 after acquiring an additional 23 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 0.8% in the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock valued at $1,193,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Redburn Atlantic initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price for the company. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company boosted their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, Piper Sandler raised their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $485.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,615 shares of company stock valued at $21,417,310. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Trading Down 0.1 %

Shares of Vertex Pharmaceuticals stock opened at $468.00 on Friday. The firm has a market cap of $120.77 billion, a price-to-earnings ratio of 30.37 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.85 and a 52-week high of $510.64. The company’s 50-day simple moving average is $483.31 and its 200-day simple moving average is $448.38. 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 (NASDAQ:VRTX) last released its earnings results 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 business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.53 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current year.

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.