Global Trust Asset Management LLC Acquires 220 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Global Trust Asset Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 26.9% during the 3rd quarter, Holdings Channel reports. The firm owned 1,037 shares of the pharmaceutical company’s stock after purchasing an additional 220 shares during the period. Global Trust Asset Management LLC’s holdings in Vertex Pharmaceuticals were worth $482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in Vertex Pharmaceuticals by 224.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 311,643 shares of the pharmaceutical company’s stock worth $144,939,000 after acquiring an additional 215,448 shares during the last quarter. Bogart Wealth LLC boosted its stake in Vertex Pharmaceuticals by 1.2% during the 3rd quarter. Bogart Wealth LLC now owns 19,228 shares of the pharmaceutical company’s stock worth $8,943,000 after acquiring an additional 237 shares during the last quarter. Jackson Wealth Management LLC boosted its stake in Vertex Pharmaceuticals by 90.1% during the 3rd quarter. Jackson Wealth Management LLC now owns 3,548 shares of the pharmaceutical company’s stock worth $1,650,000 after acquiring an additional 1,682 shares during the last quarter. Commonwealth Financial Services LLC bought a new position in Vertex Pharmaceuticals during the 3rd quarter worth approximately $205,000. Finally, Greystone Financial Group LLC boosted its stake in Vertex Pharmaceuticals by 24.8% during the 3rd quarter. Greystone Financial Group LLC now owns 1,117 shares of the pharmaceutical company’s stock worth $519,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Activity

In other news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s 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 completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,005 shares of company stock valued at $5,988,066. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on VRTX shares. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Truist Financial reiterated a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. StockNews.com lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada cut their price objective on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $492.92.

Vertex Pharmaceuticals Trading Up 0.4 %

Shares of NASDAQ:VRTX opened at $471.91 on Friday. 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 company’s 50-day moving average price is $475.60 and its two-hundred day moving average price is $461.29. The stock has a market capitalization of $121.80 billion, a PE ratio of -232.47 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64.

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 firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.53 earnings per share. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

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.