Patriot Financial Group Insurance Agency LLC Has $1.45 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Patriot Financial Group Insurance Agency LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,082 shares of the pharmaceutical company’s stock after purchasing an additional 37 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Vertex Pharmaceuticals were worth $1,445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. University of Texas Texas AM Investment Managment Co. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $25,000. Annapolis Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $27,000. ICA Group Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Quest Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth about $33,000. Finally, Founders Capital Management grew its holdings in shares of Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.5 %

NASDAQ VRTX traded down $2.34 on Tuesday, reaching $480.30. The company had a trading volume of 1,062,157 shares, compared to its average volume of 1,207,881. The stock has a market capitalization of $123.94 billion, a P/E ratio of 31.17 and a beta of 0.39. The company’s fifty day moving average is $481.16 and its 200 day moving average is $444.83. Vertex Pharmaceuticals Incorporated has a 52-week low of $340.83 and a 52-week high of $510.64. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly 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 company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.53 earnings per share. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. TD Cowen boosted their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Oppenheimer boosted their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Wells Fargo & Company upped their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $485.91.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the completion of the transaction, the chief executive officer now owns 106,172 shares in the company, valued at approximately $52,767,484. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at approximately $11,088,728.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total value of $7,555,394.00. Following the transaction, the chief executive officer now owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The disclosure for this sale can be found here. Insiders sold 43,815 shares of company stock worth $21,253,879 in the last quarter. 0.20% of the stock is currently owned by company insiders.

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.