Great Diamond Partners LLC Sells 682 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Great Diamond Partners LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 39.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,027 shares of the pharmaceutical company’s stock after selling 682 shares during the period. Great Diamond Partners LLC’s holdings in Vertex Pharmaceuticals were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. Founders Capital Management lifted its holdings in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the period. Finally, ZRC Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth $39,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. TD Cowen upped their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Finally, 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. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and an average price target of $492.92.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction 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 in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,005 shares of company stock worth $5,988,066. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $470.36 on Wednesday. The company has a fifty day moving average price of $475.03 and a two-hundred day moving average price of $463.79. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. The stock has a market cap of $121.40 billion, a P/E ratio of -231.70 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.53 EPS. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Vertex Pharmaceuticals 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.