Net Worth Advisory Group Acquires New Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Net Worth Advisory Group purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,479 shares of the pharmaceutical company’s stock, valued at approximately $688,000.

Other institutional investors have also modified their holdings of the company. Annapolis Financial Services LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at $27,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter worth about $31,000. Founders Capital Management increased its stake in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the period. Finally, ZRC Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on VRTX. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada lowered their price objective on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $492.92.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value 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 $20,320,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Bruce I. Sachs sold 5,295 shares of the 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 completion of the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,487 shares of company stock worth $14,657,149. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $483.00 on Friday. The firm has a market cap of $124.64 billion, a price-to-earnings ratio of 31.34 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 Incorporated has a 1-year low of $341.90 and a 1-year high of $510.64. The firm’s fifty day moving average price is $475.21 and its 200 day moving average price is $459.87.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.53 EPS. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 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.