WP Advisors LLC Reduces Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

WP Advisors LLC cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,044 shares of the pharmaceutical company’s stock after selling 100 shares during the period. WP Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,896,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $27,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. ICA Group Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $28,000. Finally, Founders Capital Management increased its stake in shares of Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction 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. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,185 shares of company stock valued at $19,206,094. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.5 %

Vertex Pharmaceuticals stock traded up $2.54 during midday trading on Friday, hitting $495.89. 1,809,666 shares of the stock were exchanged, compared to its average volume of 1,206,899. Vertex Pharmaceuticals Incorporated has a 1 year low of $340.83 and a 1 year high of $510.64. The firm has a market cap of $127.99 billion, a P/E ratio of 32.18 and a beta of 0.39. 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 company has a 50 day moving average price of $482.85 and a two-hundred day moving average price of $446.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion for 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 business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $3.53 EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VRTX. Redburn Atlantic began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. HC Wainwright raised their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, August 2nd. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, Oppenheimer raised their target price on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $485.91.

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.