Avidian Wealth Enterprises LLC Sells 111 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avidian Wealth Enterprises LLC trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,142 shares of the pharmaceutical company’s stock after selling 111 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Vertex Pharmaceuticals were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC grew its stake in shares of Vertex Pharmaceuticals by 61.3% in the 1st quarter. Norden Group LLC now owns 992 shares of the pharmaceutical company’s stock worth $415,000 after buying an additional 377 shares in the last quarter. Quent Capital LLC grew its position in Vertex Pharmaceuticals by 33.0% in the first quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company’s stock worth $167,000 after acquiring an additional 99 shares in the last quarter. Larson Financial Group LLC increased its stake in Vertex Pharmaceuticals by 714.3% during the first quarter. Larson Financial Group LLC now owns 228 shares of the pharmaceutical company’s stock worth $95,000 after acquiring an additional 200 shares during the last quarter. Advisory Alpha LLC bought a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $356,000. Finally, Advisory Services Network LLC raised its position in Vertex Pharmaceuticals by 31.7% during the first quarter. Advisory Services Network LLC now owns 9,751 shares of the pharmaceutical company’s stock valued at $4,076,000 after purchasing an additional 2,348 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $502.45 on Friday. The company has a market capitalization of $129.68 billion, a PE ratio of -252.49 and a beta of 0.39. The company has a 50-day simple moving average of $474.81 and a two-hundred day simple moving average of $466.95. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.88%. Vertex Pharmaceuticals’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.67 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America cut their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday. Guggenheim raised 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. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday. Finally, Piper Sandler increased their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $495.96.

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.