Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,226 shares of the pharmaceutical company’s stock after acquiring an additional 145 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $27,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $31,000. Founders Capital Management increased its position in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing 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 $39,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the completion of the transaction, the chief marketing officer now owns 25,539 shares in the company, valued at $12,474,779.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the completion of the transaction, the chief marketing officer now directly owns 25,539 shares of the company’s stock, valued at approximately $12,474,779.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 14,285 shares of company stock valued at $7,101,755 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VRTX. Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Piper Sandler boosted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Hold” and an average target price of $492.92.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $483.00 on Monday. 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 Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The company has a market cap of $124.66 billion, a P/E ratio of -237.93 and a beta of 0.40. The firm’s 50 day moving average price is $475.21 and its 200 day moving average price is $460.23.

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 analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $3.53 earnings per share. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Vertex Pharmaceuticals 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.