Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Holdings Raised by Tower View Wealth Management LLC

Tower View Wealth Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,887 shares of the pharmaceutical company’s stock after purchasing an additional 80 shares during the quarter. Tower View Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,273,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VRTX. Brookstone Capital Management raised its holdings in Vertex Pharmaceuticals by 11.1% during the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after buying an additional 237 shares in the last quarter. Founders Financial Securities LLC lifted its holdings in Vertex Pharmaceuticals by 18.4% in the 1st quarter. Founders Financial Securities LLC now owns 1,186 shares of the pharmaceutical company’s stock worth $496,000 after purchasing an additional 184 shares during the last quarter. Trilogy Capital Inc. bought a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $429,000. LVW Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the first quarter worth about $256,000. Finally, Miracle Mile Advisors LLC increased its stake in Vertex Pharmaceuticals by 49.4% during the first quarter. Miracle Mile Advisors LLC now owns 4,470 shares of the pharmaceutical company’s stock valued at $1,869,000 after acquiring an additional 1,479 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.2 %

VRTX stock opened at $477.70 on Monday. The company has a 50 day moving average price of $475.61 and a 200 day moving average price of $462.73. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

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

Analyst Ratings Changes

A number of analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. Bank of America decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. UBS Group increased their price objective on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. 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 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $492.92.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction 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 sale, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owns 40,000 shares in the company, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,005 shares of company stock worth $5,988,066. Company insiders own 0.20% of the company’s stock.

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.