Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Brookstone Capital Management

Brookstone Capital Management reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.8% during the third quarter, Holdings Channel.com reports. The fund owned 2,322 shares of the pharmaceutical company’s stock after selling 169 shares during the quarter. Brookstone Capital Management’s holdings in Vertex Pharmaceuticals were worth $1,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Annapolis Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $29,000. Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth $31,000. Founders Capital Management grew its holdings in shares of Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $39,000. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now directly owns 23,259 shares in the company, valued at $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,487 shares of company stock worth $14,657,149 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $481.71 on Friday. The stock has a 50-day moving average of $473.48 and a 200-day moving average of $457.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The company has a market cap of $124.33 billion, a PE ratio of -237.30 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $3.53 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on VRTX. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Truist Financial reissued a “buy” rating and issued a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Wells Fargo & Company upped 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. Oppenheimer lifted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, TD Cowen raised their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $486.95.

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.