6,352 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by Seven Eight Capital LP

Seven Eight Capital LP purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,352 shares of the pharmaceutical company’s stock, valued at approximately $2,977,000.

Several other institutional investors and hedge funds have also bought and sold shares of VRTX. Groesbeck Investment Management Corp NJ lifted its stake in Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. lifted its position in shares of Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after purchasing an additional 22 shares during the period. Drive Wealth Management LLC lifted its position in shares of Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after purchasing an additional 22 shares during the period. RFP Financial Group LLC increased its position in shares of Vertex Pharmaceuticals by 17.0% during the second quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock valued at $74,000 after buying an additional 23 shares during the period. Finally, Hohimer Wealth Management LLC raised its stake in Vertex Pharmaceuticals by 0.8% in the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the topic of several research reports. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Oppenheimer boosted their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. 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. Finally, Argus raised their price target on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $485.91.

Insider Activity

In related news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the sale, the chief executive officer now owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the transaction, the chief marketing officer now directly owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock worth $16,843,806 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.7 %

Vertex Pharmaceuticals stock opened at $481.26 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.85 and a 12-month high of $510.64. The firm has a market capitalization of $124.19 billion, a price-to-earnings ratio of 31.23 and a beta of 0.40. The firm has a 50 day moving average of $483.77 and a 200 day moving average of $451.24. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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 firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $3.53 earnings per share. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

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.