Asset Dedication LLC Purchases 100 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Asset Dedication LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 98.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 202 shares of the pharmaceutical company’s stock after acquiring an additional 100 shares during the period. Asset Dedication LLC’s holdings in Vertex Pharmaceuticals were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $25,000. Annapolis Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $27,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $31,000. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. Finally, Founders Capital Management grew its position in shares of Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other 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 business’s 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 in the company, valued at $2,217,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the completion of the transaction, the chief marketing officer now owns 32,379 shares of the company’s stock, valued at approximately $15,477,162. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,615 shares of company stock valued at $21,417,310. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VRTX shares. Truist Financial restated a “buy” rating and set a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Canaccord Genuity Group raised their price objective on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $485.91.

Vertex Pharmaceuticals Stock Up 0.7 %

NASDAQ VRTX opened at $471.11 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64. The stock has a market capitalization of $121.59 billion, a PE ratio of 30.57 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. The business’s 50-day moving average is $483.30 and its 200 day moving average is $449.09.

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). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.53 EPS. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current 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.