Onyx Bridge Wealth Group LLC Buys New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Onyx Bridge Wealth Group LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 724 shares of the pharmaceutical company’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brookstone Capital Management boosted its stake in Vertex Pharmaceuticals by 11.1% in the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after buying an additional 237 shares in the last quarter. Creative Planning boosted its stake in shares of Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after purchasing an additional 3,998 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after purchasing an additional 1,248 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth $74,213,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Vertex Pharmaceuticals in the second quarter worth $21,008,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $488.46, for a total transaction of $1,113,688.80. Following the completion of the sale, the chief marketing officer now directly owns 25,539 shares in the company, valued at approximately $12,474,779.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s 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 completion of the transaction, the director now 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. Insiders have sold 29,487 shares of company stock worth $14,657,149 in the last 90 days. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on VRTX shares. Oppenheimer lifted their price objective on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Canaccord Genuity Group increased their price objective on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Truist Financial reiterated a “buy” rating and set a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, TD Cowen raised their price target on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $492.92.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $483.00 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $475.21 and its 200-day moving average price is $459.52. The stock has a market cap of $124.64 billion, a PE ratio of 31.34 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.66 billion. During the same quarter last year, the company posted $3.53 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal 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.