Exchange Traded Concepts LLC Has $1.38 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Exchange Traded Concepts LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 44.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,958 shares of the pharmaceutical company’s stock after selling 2,355 shares during the period. Exchange Traded Concepts LLC’s holdings in Vertex Pharmaceuticals were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VRTX. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter valued at about $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth about $31,000. Founders Capital Management increased its holdings in shares of Vertex Pharmaceuticals by 50.0% during 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 during the last quarter. Finally, ZRC Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 transaction of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, 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 SEC, which is available at this hyperlink. 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 value of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,487 shares of company stock valued at $14,657,149. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VRTX shares. JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Oppenheimer upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $488.92.

Vertex Pharmaceuticals Trading Up 0.6 %

Shares of VRTX opened at $487.25 on Thursday. The stock has a 50 day simple moving average of $474.27 and a 200-day simple moving average of $458.81. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a market cap of $125.76 billion, a PE ratio of -240.02 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.66 billion. During the same period in the previous year, the business posted $3.53 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal 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.