Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by McAdam LLC

McAdam LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,636 shares of the pharmaceutical company’s stock after buying an additional 116 shares during the quarter. McAdam LLC’s holdings in Vertex Pharmaceuticals were worth $1,226,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $25,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at approximately $29,000. Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth $27,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $31,000. Finally, Founders Capital Management grew its holdings in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In related news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 value of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction dated 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 transaction, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,005 shares of company stock worth $5,988,066. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $470.05 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. The stock has a 50 day moving average of $475.60 and a two-hundred day moving average of $461.29. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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). 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 analysts’ expectations of $2.66 billion. During the same period in the prior year, the company posted $3.53 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Oppenheimer upped their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Bank of America decreased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley increased their price objective on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $492.92.

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.