Graypoint LLC Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Graypoint LLC boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.8% during the second quarter, HoldingsChannel.com reports. The firm owned 2,905 shares of the pharmaceutical company’s stock after acquiring an additional 578 shares during the period. Graypoint LLC’s holdings in Vertex Pharmaceuticals were worth $1,362,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in VRTX. University of Texas Texas AM Investment Managment Co. acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $25,000. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $28,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $31,000. Finally, Quest Partners LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $33,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Edward Morrow Atkinson III sold 7,288 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $3,483,664.00. Following the transaction, the executive vice president now owns 15,972 shares of the company’s stock, valued at approximately $7,634,616. The disclosure for this sale can be found here. Insiders have sold a total of 39,185 shares of company stock valued at $19,206,094 in the last quarter. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several analyst reports. Guggenheim upped their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, August 2nd. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Argus boosted their price objective on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $485.91.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded up $2.54 during trading on Friday, hitting $495.89. 1,809,666 shares of the company traded hands, compared to its average volume of 1,162,762. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average is $482.85 and its 200-day moving average is $446.63. The stock has a market capitalization of $127.97 billion, a price-to-earnings ratio of 32.18 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a one year low of $340.83 and a one year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.53 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Company Profile

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.