Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Covestor Ltd

Covestor Ltd reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 43.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 408 shares of the pharmaceutical company’s stock after selling 315 shares during the quarter. Covestor Ltd’s holdings in Vertex Pharmaceuticals were worth $171,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Telos Capital Management Inc. boosted its position in shares of Vertex Pharmaceuticals by 1.6% during the 4th quarter. Telos Capital Management Inc. now owns 15,073 shares of the pharmaceutical company’s stock worth $6,133,000 after purchasing an additional 237 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Vertex Pharmaceuticals by 11.1% during the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after purchasing an additional 237 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Vertex Pharmaceuticals by 15.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,897 shares of the pharmaceutical company’s stock worth $12,497,000 after purchasing an additional 3,999 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Vertex Pharmaceuticals by 7.7% in the 4th quarter. ARK Investment Management LLC now owns 124,197 shares of the pharmaceutical company’s stock worth $50,535,000 after buying an additional 8,866 shares in the last quarter. Finally, Brevan Howard Capital Management LP boosted its position in shares of Vertex Pharmaceuticals by 216.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock worth $1,965,000 after buying an additional 3,303 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total value of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce I. Sachs sold 7,073 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. Insiders have sold 30,646 shares of company stock worth $14,169,923 over the last ninety days. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. UBS Group cut their target price on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price for the company. Finally, Canaccord Genuity Group reissued a “sell” rating and issued a $371.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $458.50.

Vertex Pharmaceuticals Stock Down 0.8 %

NASDAQ VRTX traded down $3.88 on Tuesday, reaching $492.03. The company had a trading volume of 302,183 shares, compared to its average volume of 1,210,490. The firm has a market capitalization of $126.97 billion, a PE ratio of 32.18, a P/E/G ratio of 2.54 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.50 and a quick ratio of 3.29. The firm has a 50-day moving average of $469.84 and a 200-day moving average of $435.47. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $498.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.66 by $1.10. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.67 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.16 EPS 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.