Headlands Technologies LLC Buys 1,956 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Headlands Technologies LLC raised its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 81.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,371 shares of the pharmaceutical company’s stock after purchasing an additional 1,956 shares during the period. Headlands Technologies LLC’s holdings in Vertex Pharmaceuticals were worth $2,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brookstone Capital Management grew its stake in shares of Vertex Pharmaceuticals by 11.1% during the 1st quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after acquiring an additional 237 shares during the period. Brevan Howard Capital Management LP boosted its position in shares of Vertex Pharmaceuticals by 216.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock worth $1,965,000 after purchasing an additional 3,303 shares during the period. Greenwood Capital Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 11.3% in the fourth quarter. Greenwood Capital Associates LLC now owns 25,345 shares of the pharmaceutical company’s stock worth $10,313,000 after purchasing an additional 2,576 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $2,763,000. Finally, Blue Trust Inc. lifted its stake in shares of Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after buying an additional 1,248 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.1 %

NASDAQ VRTX opened at $470.78 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.85 and a 52 week high of $510.64. The firm has a market capitalization of $121.49 billion, a price-to-earnings ratio of 30.55 and a beta of 0.40. 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 company has a fifty day moving average of $483.24 and a two-hundred day moving average of $449.37.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted $3.53 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current year.

Insider Activity

In related news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,047 shares of company stock valued at $16,843,806. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VRTX. HC Wainwright raised their price target on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Canaccord Genuity Group upped their price target on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. TD Cowen lifted their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Oppenheimer upped 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.