Avidian Wealth Enterprises LLC Sells 111 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avidian Wealth Enterprises LLC cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,142 shares of the pharmaceutical company’s stock after selling 111 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Vertex Pharmaceuticals were worth $531,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Capital World Investors increased its stake in shares of Vertex Pharmaceuticals by 17.2% during the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after purchasing an additional 3,761,414 shares in the last quarter. Vanguard Group Inc. increased its position in Vertex Pharmaceuticals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after buying an additional 394,338 shares in the last quarter. Capital Research Global Investors raised its stake in Vertex Pharmaceuticals by 61.0% during the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after buying an additional 2,176,218 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Vertex Pharmaceuticals by 10.4% in the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock worth $1,080,296,000 after acquiring an additional 244,336 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock worth $1,135,556,000 after acquiring an additional 29,104 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’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 transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRTX. Truist Financial reissued a “buy” rating and set a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. HC Wainwright reiterated a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. UBS Group raised their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $495.96.

Vertex Pharmaceuticals Stock Up 1.8 %

NASDAQ VRTX opened at $502.45 on Friday. The stock’s 50-day moving average price is $474.81 and its 200-day moving average price is $466.95. The company has a market capitalization of $129.68 billion, a P/E ratio of -252.49 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. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.88%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.67 earnings per share. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current 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.