Highline Wealth Partners LLC Acquires New Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Highline Wealth Partners LLC acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 59 shares of the pharmaceutical company’s stock, valued at approximately $27,000.

A number of other institutional investors also recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals during the third quarter valued at about $25,000. GHP Investment Advisors Inc. acquired a new stake in Vertex Pharmaceuticals in the second quarter worth about $29,000. Stephens Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter worth about $31,000. Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. Finally, ZRC Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter worth about $39,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VRTX. Canaccord Genuity Group raised their price target on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Piper Sandler raised their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, October 8th. Finally, Truist Financial restated a “buy” rating and issued a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Hold” and an average target price of $492.50.

Vertex Pharmaceuticals Stock Up 1.0 %

Shares of VRTX opened at $475.08 on Thursday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The stock’s 50 day moving average is $474.81 and its two-hundred day moving average is $463.87. The firm has a market cap of $122.62 billion, a P/E ratio of -234.03 and a beta of 0.40.

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 analysts’ consensus estimates of ($12.54) by ($0.29). The firm 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 business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.53 earnings per share. Analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. 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 available at this link. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the transaction, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 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 position. The disclosure for this sale can be found here. Insiders have sold 6,710 shares of company stock valued at $3,298,206 over the last ninety days. Insiders own 0.20% of the company’s stock.

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.