Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Focus Financial Network Inc.

Focus Financial Network Inc. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 558 shares of the pharmaceutical company’s stock after acquiring an additional 37 shares during the period. Focus Financial Network Inc.’s holdings in Vertex Pharmaceuticals were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VRTX. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. Finally, Founders Capital Management lifted 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 worth $35,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In related news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals 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 completion of the transaction, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. 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 is available through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,710 shares of company stock worth $3,298,206. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $471.12 on Monday. The firm has a market cap of $121.60 billion, a price-to-earnings ratio of -232.08 and a beta of 0.39. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $474.53 and its two-hundred day moving average is $465.46. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate 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 was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.53 earnings per share. Analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on VRTX. HC Wainwright restated a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Piper Sandler boosted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada cut their target price on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. StockNews.com downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, UBS Group upped their price target on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $492.50.

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.