Tobam Sells 144 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tobam trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 23.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 481 shares of the pharmaceutical company’s stock after selling 144 shares during the quarter. Tobam’s holdings in Vertex Pharmaceuticals were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Guardian Asset Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 13.2% in the 3rd quarter. Guardian Asset Advisors LLC now owns 795 shares of the pharmaceutical company’s stock valued at $370,000 after purchasing an additional 93 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Vertex Pharmaceuticals during the third quarter valued at about $248,000. Wedmont Private Capital lifted its stake in shares of Vertex Pharmaceuticals by 2.0% in the third quarter. Wedmont Private Capital now owns 3,249 shares of the pharmaceutical company’s stock valued at $1,458,000 after buying an additional 65 shares during the period. Marcum Wealth LLC grew its position in Vertex Pharmaceuticals by 2.2% during the third quarter. Marcum Wealth LLC now owns 1,204 shares of the pharmaceutical company’s stock worth $560,000 after buying an additional 26 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its holdings in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 of the company’s stock, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,487 shares of company stock worth $14,657,149. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Argus raised their price objective on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Finally, HC Wainwright increased their target price on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $486.95.

Vertex Pharmaceuticals Trading Up 1.7 %

VRTX stock opened at $476.15 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The company has a 50 day moving average price of $474.33 and a 200 day moving average price of $456.52. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $3.53 EPS. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal 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.