Hohimer Wealth Management LLC Trims Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Hohimer Wealth Management LLC decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 22.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,250 shares of the pharmaceutical company’s stock after selling 633 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,055,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Groesbeck Investment Management Corp NJ raised its position in Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after buying an additional 21 shares during the last quarter. Institute for Wealth Management LLC. raised its position in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after buying an additional 22 shares during the last quarter. Drive Wealth Management LLC raised its position in Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after buying an additional 22 shares during the last quarter. RFP Financial Group LLC raised its position in Vertex Pharmaceuticals by 17.0% during the 2nd quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock worth $74,000 after buying an additional 23 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its position in Vertex Pharmaceuticals by 2.5% during the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock worth $407,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

VRTX has been the subject of a number of research analyst reports. Piper Sandler increased their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd. Redburn Atlantic initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price target for the company. Guggenheim increased their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Hold” and an average target price of $485.91.

Vertex Pharmaceuticals Trading Down 2.2 %

Vertex Pharmaceuticals stock traded down $10.63 during trading on Thursday, reaching $467.94. The company had a trading volume of 193,104 shares, compared to its average volume of 1,202,381. Vertex Pharmaceuticals Incorporated has a 12-month low of $340.83 and a 12-month high of $510.64. The stock’s 50 day moving average price is $483.40 and its two-hundred day moving average price is $447.92. The firm has a market capitalization of $120.78 billion, a price-to-earnings ratio of 31.06 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the firm posted $3.53 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on 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 directly owns 4,435 shares in the company, valued at $2,217,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,615 shares of company stock worth $21,417,310. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals 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.