Atlanta Consulting Group Advisors LLC Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Atlanta Consulting Group Advisors LLC raised its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 303.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,769 shares of the pharmaceutical company’s stock after purchasing an additional 1,331 shares during the quarter. Atlanta Consulting Group Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $823,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the second quarter worth about $29,000. Stephens Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at about $31,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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 owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $465.70 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $519.88. The business’s 50-day moving average price is $476.39 and its 200 day moving average price is $471.60. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $119.93 billion, a PE ratio of -234.02 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. Vertex Pharmaceuticals’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.67 earnings per share. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRTX. Scotiabank raised their price target on Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Oppenheimer lowered their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler raised their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, TD Cowen upped their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $499.12.

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.