Peak Financial Management Inc. Acquires 150 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Peak Financial Management Inc. grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 28.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 680 shares of the pharmaceutical company’s stock after buying an additional 150 shares during the quarter. Peak Financial Management Inc.’s holdings in Vertex Pharmaceuticals were worth $316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. RDA Financial Network increased its position in Vertex Pharmaceuticals by 7.6% in the 3rd quarter. RDA Financial Network now owns 7,392 shares of the pharmaceutical company’s stock valued at $3,438,000 after acquiring an additional 523 shares during the period. Zhang Financial LLC grew its holdings in Vertex Pharmaceuticals by 3.2% during the 3rd quarter. Zhang Financial LLC now owns 4,035 shares of the pharmaceutical company’s stock worth $1,876,000 after acquiring an additional 127 shares during the period. NBC Securities Inc. grew its stake in shares of Vertex Pharmaceuticals by 34.5% in the 3rd quarter. NBC Securities Inc. now owns 160 shares of the pharmaceutical company’s stock valued at $74,000 after buying an additional 41 shares during the period. Occidental Asset Management LLC grew its stake in shares of Vertex Pharmaceuticals by 51.7% in the 3rd quarter. Occidental Asset Management LLC now owns 695 shares of the pharmaceutical company’s stock valued at $323,000 after buying an additional 237 shares during the period. Finally, Creative Planning grew its stake in shares of Vertex Pharmaceuticals by 1.7% in the 3rd quarter. Creative Planning now owns 80,467 shares of the pharmaceutical company’s stock valued at $37,424,000 after buying an additional 1,350 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were 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 in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sangeeta N. Bhatia sold 646 shares of the 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 owns 4,435 shares in the company, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the 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 sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,487 shares of company stock worth $14,657,149. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Down 0.1 %

VRTX stock traded down $0.52 during trading on Tuesday, reaching $484.30. The company had a trading volume of 1,250,966 shares, compared to its average volume of 1,175,475. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The company has a market cap of $124.98 billion, a P/E ratio of 31.46 and a beta of 0.40. The business has a 50 day moving average of $473.64 and a 200 day moving average of $458.14. 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 (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. Vertex Pharmaceuticals’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. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the subject of a number of analyst reports. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price target for the company. Guggenheim lifted their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America lowered their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $472.00 to $509.00 in a report on Monday, August 5th. Finally, Royal Bank of Canada lowered their target price on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $489.30.

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.