437 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Bought by Commonwealth Financial Services LLC

Commonwealth Financial Services LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, HoldingsChannel reports. The institutional investor acquired 437 shares of the pharmaceutical company’s stock, valued at approximately $205,000.

Other hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the third quarter worth about $25,000. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the second quarter valued at $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth $31,000. Finally, Founders Capital Management lifted its holdings in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, 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 value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals 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 sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,005 shares of company stock valued at $5,988,066. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VRTX has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Oppenheimer raised their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Piper Sandler upped their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $492.92.

Vertex Pharmaceuticals Stock Up 0.9 %

Shares of VRTX stock traded up $4.27 on Thursday, hitting $474.32. The stock had a trading volume of 94,002 shares, compared to its average volume of 1,168,871. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The company has a fifty day moving average price of $475.60 and a two-hundred day moving average price of $461.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company earned $3.53 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.