Worth Asset Management LLC Purchases Shares of 828 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Worth Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 828 shares of the pharmaceutical company’s stock, valued at approximately $385,000.

Several other hedge funds have also made changes to their positions in VRTX. Capital World Investors lifted its position in Vertex Pharmaceuticals by 17.2% during the first quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock worth $10,687,339,000 after buying an additional 3,761,414 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock worth $9,479,011,000 after acquiring an additional 394,338 shares during the period. Capital Research Global Investors boosted its position in shares of Vertex Pharmaceuticals by 61.0% in the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after acquiring an additional 2,176,218 shares during the last quarter. Jennison Associates LLC grew its holdings in Vertex Pharmaceuticals by 21.2% in the first quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after purchasing an additional 837,461 shares during the period. Finally, Janus Henderson Group PLC increased its position in Vertex Pharmaceuticals by 10.4% during the first quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock worth $1,080,296,000 after purchasing an additional 244,336 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VRTX shares. Argus lifted their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. Oppenheimer boosted their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. TD Cowen raised their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $486.95.

Vertex Pharmaceuticals Stock Up 1.7 %

Shares of NASDAQ:VRTX opened at $476.15 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. 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 firm has a market cap of $122.89 billion, a PE ratio of -234.56 and a beta of 0.40. The company has a fifty day simple moving average of $473.74 and a 200 day simple moving average of $456.66.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its 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 company had revenue of $2.65 billion during 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 business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.53 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction on 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 of the company’s stock, valued at $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’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 value of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction 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 transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,487 shares of company stock valued at $14,657,149 in the last quarter. 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.