Daymark Wealth Partners LLC Has $374,000 Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Daymark Wealth Partners LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 804 shares of the pharmaceutical company’s stock after buying an additional 22 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Vertex Pharmaceuticals were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barlow Wealth Partners Inc. lifted its position in shares of Vertex Pharmaceuticals by 1.2% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 47,572 shares of the pharmaceutical company’s stock worth $21,341,000 after buying an additional 563 shares during the last quarter. Connective Portfolio Management LLC lifted its stake in Vertex Pharmaceuticals by 227.8% in the 3rd quarter. Connective Portfolio Management LLC now owns 13,110 shares of the pharmaceutical company’s stock valued at $6,097,000 after purchasing an additional 9,110 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Vertex Pharmaceuticals in the third quarter valued at approximately $47,000. Strategic Wealth Partners Ltd. grew its stake in shares of Vertex Pharmaceuticals by 10.1% during the third quarter. Strategic Wealth Partners Ltd. now owns 3,201 shares of the pharmaceutical company’s stock worth $1,489,000 after buying an additional 294 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Vertex Pharmaceuticals by 75.9% during the third quarter. Atomi Financial Group Inc. now owns 1,917 shares of the pharmaceutical company’s stock worth $892,000 after buying an additional 827 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen raised 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. Argus boosted their price target on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Truist Financial reiterated a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Redburn Atlantic initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $486.95.

Vertex Pharmaceuticals Stock Up 1.7 %

NASDAQ:VRTX 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 firm has a fifty day simple moving average of $474.33 and a two-hundred day simple moving average of $456.52. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64.

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 company had revenue of $2.65 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.53 earnings per share. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated 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 transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction dated 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 sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,487 shares of company stock worth $14,657,149. 0.20% of the stock is currently owned by company insiders.

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.