Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560 shares of the pharmaceutical company’s stock after acquiring an additional 78 shares during the period. Stratos Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $260,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Groesbeck Investment Management Corp NJ increased its position in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after buying an additional 21 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after acquiring an additional 22 shares in the last quarter. Drive Wealth Management LLC raised its position in Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after acquiring an additional 22 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after purchasing an additional 22 shares in the last quarter. Finally, Grove Bank & Trust grew its position in shares of Vertex Pharmaceuticals by 5.7% in the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after purchasing an additional 22 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the business’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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,005 shares of company stock valued at $5,988,066. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Trading Down 0.7 %

NASDAQ:VRTX opened at $474.91 on Wednesday. The firm has a market capitalization of $122.55 billion, a PE ratio of 30.82 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. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The business’s 50-day moving average is $475.63 and its two-hundred day moving average is $461.23.

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

Wall Street Analyst Weigh In

VRTX has been the subject of several research reports. UBS Group lifted their price objective on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Bank of America reduced their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Oppenheimer lifted their price objective on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Piper Sandler upped their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $492.92.

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.