Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,474 shares of the pharmaceutical company’s stock after selling 1,006 shares during the quarter. Vertex Pharmaceuticals comprises 1.7% of Valley Wealth Managers Inc.’s portfolio, making the stock its 11th largest position. Valley Wealth Managers Inc.’s holdings in Vertex Pharmaceuticals were worth $23,474,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of VRTX. Quent Capital LLC boosted its holdings in Vertex Pharmaceuticals by 33.0% in the first quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company’s stock valued at $167,000 after purchasing an additional 99 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Vertex Pharmaceuticals by 1.5% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,364 shares of the pharmaceutical company’s stock worth $988,000 after buying an additional 35 shares during the last quarter. GM Advisory Group LLC bought a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $224,000. Te Ahumairangi Investment Management Ltd raised its position in shares of Vertex Pharmaceuticals by 3.3% during the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 14,734 shares of the pharmaceutical company’s stock worth $6,159,000 after purchasing an additional 470 shares during the period. Finally, Clearstead Trust LLC raised its position in shares of Vertex Pharmaceuticals by 104.5% during the 1st quarter. Clearstead Trust LLC now owns 137 shares of the pharmaceutical company’s stock worth $57,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on VRTX shares. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Citigroup initiated coverage on Vertex Pharmaceuticals in a research report on Thursday. They set a “buy” rating and a $575.00 target price on the stock. Piper Sandler lifted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group lifted their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Finally, Bank of America lowered their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $499.12.

Vertex Pharmaceuticals Trading Down 3.1 %

VRTX traded down $15.06 during mid-day trading on Friday, reaching $468.90. The stock had a trading volume of 182,816 shares, compared to its average volume of 1,168,481. The stock has a market capitalization of $120.76 billion, a P/E ratio of -235.63 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm’s fifty day simple moving average is $476.44 and its two-hundred day simple moving average is $470.57. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $519.88.

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

Insider Activity

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s 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 completion of the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 27.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,217,500. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

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.