Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,480 shares of the pharmaceutical company’s stock after selling 3,723 shares during the quarter. Vertex Pharmaceuticals accounts for about 1.9% of Valley Wealth Managers Inc.’s holdings, making the stock its 8th biggest position. Valley Wealth Managers Inc.’s holdings in Vertex Pharmaceuticals were worth $24,130,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $25,000. GHP Investment Advisors Inc. purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $29,000. Annapolis Financial Services LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter valued at $27,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $31,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $478.65 on Friday. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.85 and a twelve month high of $510.64. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $123.54 billion, a price-to-earnings ratio of 31.06 and a beta of 0.40. The business has a 50 day simple moving average of $483.50 and a 200-day simple moving average of $449.75.

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 research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer now owns 106,172 shares of the company’s stock, valued at $52,767,484. The disclosure for this sale can be found here. Insiders sold a total of 34,047 shares of company stock worth $16,843,806 in the last three months. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Guggenheim lifted their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Hold” and an average target price of $485.91.

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.