Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Heirloom Wealth Management

Heirloom Wealth Management grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,608 shares of the pharmaceutical company’s stock after acquiring an additional 321 shares during the quarter. Vertex Pharmaceuticals comprises approximately 2.6% of Heirloom Wealth Management’s portfolio, making the stock its 15th biggest holding. Heirloom Wealth Management’s holdings in Vertex Pharmaceuticals were worth $8,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Annapolis Financial Services LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at $27,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $31,000. Founders Capital Management increased its stake in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC purchased a new position in Vertex Pharmaceuticals during the first quarter worth about $39,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, 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. Over the last quarter, insiders sold 29,487 shares of company stock worth $14,657,149. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Three investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $492.92.

Vertex Pharmaceuticals Stock Up 2.4 %

Shares of Vertex Pharmaceuticals stock opened at $498.73 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $510.64. The company has a market capitalization of $128.72 billion, a PE ratio of -245.68 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The business has a 50-day moving average of $474.92 and a 200-day moving average of $459.08.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $3.53 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

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.