Los Angeles Capital Management LLC Has $30.32 Million Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Los Angeles Capital Management LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 51.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,696 shares of the pharmaceutical company’s stock after selling 68,018 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $30,324,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sivia Capital Partners LLC increased its position in shares of Vertex Pharmaceuticals by 11.8% during the second quarter. Sivia Capital Partners LLC now owns 808 shares of the pharmaceutical company’s stock worth $379,000 after buying an additional 85 shares during the period. Lake Street Advisors Group LLC increased its position in shares of Vertex Pharmaceuticals by 1.5% during the second quarter. Lake Street Advisors Group LLC now owns 5,297 shares of the pharmaceutical company’s stock worth $2,483,000 after buying an additional 76 shares during the period. Advisor OS LLC increased its position in shares of Vertex Pharmaceuticals by 10.3% during the second quarter. Advisor OS LLC now owns 545 shares of the pharmaceutical company’s stock worth $255,000 after buying an additional 51 shares during the period. Savant Capital LLC increased its position in shares of Vertex Pharmaceuticals by 91.1% during the second quarter. Savant Capital LLC now owns 6,561 shares of the pharmaceutical company’s stock worth $3,075,000 after buying an additional 3,127 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of Vertex Pharmaceuticals by 3.0% during the second quarter. Private Advisor Group LLC now owns 8,221 shares of the pharmaceutical company’s stock worth $3,853,000 after buying an additional 243 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $468.00 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64. The stock has a market cap of $120.77 billion, a P/E ratio of 30.37 and a beta of 0.40. The company has a 50 day moving average of $483.31 and a 200 day moving average of $448.57.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.66 billion. During the same period in the prior year, the firm earned $3.53 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on 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 directly owns 4,435 shares in the company, valued at approximately $2,217,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 completion of the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief executive officer now owns 106,172 shares of the company’s stock, valued at $52,767,484. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,615 shares of company stock worth $21,417,310. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Piper Sandler raised their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. 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 price target for the company. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, Guggenheim lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $485.91.

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.