Lion Street Advisors LLC Raises Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Lion Street Advisors LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 570 shares of the pharmaceutical company’s stock after buying an additional 69 shares during the period. Lion Street Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $265,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Groesbeck Investment Management Corp NJ lifted its stake in shares of Vertex Pharmaceuticals by 1.2% in the second 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 in the last quarter. Institute for Wealth Management LLC. lifted its stake in Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after purchasing an additional 22 shares in the last quarter. Drive Wealth Management LLC boosted its holdings in shares of 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 purchasing an additional 22 shares during the last quarter. Daymark Wealth Partners LLC grew its position in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock valued at $374,000 after purchasing an additional 22 shares in the last quarter. Finally, RFP Financial Group LLC increased its holdings in shares of Vertex Pharmaceuticals by 17.0% in the second quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock valued at $74,000 after purchasing an additional 23 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 1.2 %

NASDAQ:VRTX opened at $481.71 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The firm has a market cap of $124.33 billion, a PE ratio of -237.30 and a beta of 0.40. 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 stock has a fifty day moving average price of $473.48 and a 200 day moving average price of $457.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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 analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.53 earnings per share. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares in the company, valued at $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction that occurred on 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 owns 106,172 shares in the company, valued at $52,767,484. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,487 shares of company stock worth $14,657,149. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Argus upped their target price on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. Oppenheimer raised their price objective 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. Royal Bank of Canada reduced their target price on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $486.95.

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.