Sigma Planning Corp Decreases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Sigma Planning Corp reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,746 shares of the pharmaceutical company’s stock after selling 261 shares during the quarter. Sigma Planning Corp’s holdings in Vertex Pharmaceuticals were worth $1,277,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VRTX. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new stake in Vertex Pharmaceuticals in the third quarter worth $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the second quarter worth $29,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals in the second quarter worth $31,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. UBS Group boosted their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley upped their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Oppenheimer lowered their price target on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Truist Financial reaffirmed 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, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $495.96.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $490.00 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $519.88. The firm has a fifty day moving average price of $475.52 and a 200-day moving average price of $469.66. The stock has a market cap of $126.19 billion, a PE ratio of -246.23 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company earned $3.67 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

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.