Tevis Investment Management Acquires 191 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tevis Investment Management boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,042 shares of the pharmaceutical company’s stock after buying an additional 191 shares during the quarter. Tevis Investment Management’s holdings in Vertex Pharmaceuticals were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRTX. Financial Advocates Investment Management lifted its stake in shares of Vertex Pharmaceuticals by 17.9% in the 3rd quarter. Financial Advocates Investment Management now owns 3,148 shares of the pharmaceutical company’s stock valued at $1,464,000 after acquiring an additional 479 shares during the last quarter. SteelPeak Wealth LLC raised its position in Vertex Pharmaceuticals by 3,507.0% in the third quarter. SteelPeak Wealth LLC now owns 20,163 shares of the pharmaceutical company’s stock valued at $9,377,000 after purchasing an additional 19,604 shares during the last quarter. Diversify Wealth Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 27.2% during the third quarter. Diversify Wealth Management LLC now owns 3,746 shares of the pharmaceutical company’s stock valued at $1,761,000 after purchasing an additional 800 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Vertex Pharmaceuticals by 6.1% during the third quarter. First Trust Direct Indexing L.P. now owns 5,868 shares of the pharmaceutical company’s stock worth $2,729,000 after purchasing an additional 335 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Vertex Pharmaceuticals by 18.1% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 660 shares of the pharmaceutical company’s stock valued at $311,000 after buying an additional 101 shares during the period. Institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’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 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 legal filing 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 stock in a transaction 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 completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the transaction, the chief marketing officer now directly owns 23,259 shares in the company, valued at $11,088,728.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,710 shares of company stock valued at $3,298,206 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.0 %

NASDAQ VRTX opened at $475.08 on Thursday. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The business has a 50 day moving average price of $474.81 and a 200-day moving average price of $463.87. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The company has a market cap of $122.62 billion, a price-to-earnings ratio of -234.03 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the company posted $3.53 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VRTX shares. Guggenheim boosted their target price 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. HC Wainwright reissued a “buy” rating and issued a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $492.50.

About Vertex Pharmaceuticals

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.