Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Kathmere Capital Management LLC

Kathmere Capital Management LLC reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 525 shares of the pharmaceutical company’s stock after selling 52 shares during the period. Kathmere Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $246,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. acquired a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $25,000. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $27,000. Arlington Trust Co LLC boosted its holdings in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares during the period. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $28,000. Finally, Baystate Wealth Management LLC raised its position in Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after acquiring an additional 25 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VRTX shares. UBS Group lowered their price objective on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price on the stock in a research note on Thursday, April 11th. Canaccord Genuity Group lifted their price target on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday. TD Cowen boosted their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $472.23.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $11.32 during midday trading on Friday, hitting $494.46. The company’s stock had a trading volume of 1,554,817 shares, compared to its average volume of 1,047,953. The stock’s 50-day moving average price is $479.25 and its 200 day moving average price is $439.77. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.20 and a 1 year high of $510.64. The stock has a market cap of $127.60 billion, a price-to-earnings ratio of 32.09 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a negative return on equity of 2.36% and a negative net margin of 4.74%. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the firm earned $2.67 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.04 EPS for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at approximately $17,920,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. Insiders have sold a total of 53,423 shares of company stock worth $25,528,865 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

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.