Modera Wealth Management LLC Has $11.62 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Modera Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,993 shares of the pharmaceutical company’s stock after buying an additional 174 shares during the period. Modera Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $11,624,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brookstone Capital Management increased its position in shares of Vertex Pharmaceuticals by 11.1% during the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after purchasing an additional 237 shares during the last quarter. Kathmere Capital Management LLC raised its position in Vertex Pharmaceuticals by 9.9% during the first quarter. Kathmere Capital Management LLC now owns 577 shares of the pharmaceutical company’s stock worth $241,000 after acquiring an additional 52 shares in the last quarter. Grimes & Company Inc. raised its position in Vertex Pharmaceuticals by 19.3% during the first quarter. Grimes & Company Inc. now owns 607 shares of the pharmaceutical company’s stock worth $254,000 after acquiring an additional 98 shares in the last quarter. Founders Financial Securities LLC lifted its stake in Vertex Pharmaceuticals by 18.4% in the first quarter. Founders Financial Securities LLC now owns 1,186 shares of the pharmaceutical company’s stock valued at $496,000 after acquiring an additional 184 shares during the last quarter. Finally, Annapolis Financial Services LLC bought a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $27,000. Institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This represents 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 the SEC website. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction dated Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 12,005 shares of company stock valued at $5,988,066 over the last three months. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on VRTX. Oppenheimer raised their target price on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and issued a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. TD Cowen increased their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $492.92.

Vertex Pharmaceuticals Stock Up 1.2 %

Shares of NASDAQ VRTX opened at $477.70 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The stock’s fifty day moving average is $475.61 and its 200 day moving average is $462.28. 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 stock has a market capitalization of $123.27 billion, a P/E ratio of 31.00 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the business earned $3.53 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

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.