Patriot Financial Group Insurance Agency LLC Has $1.57 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Patriot Financial Group Insurance Agency LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,384 shares of the pharmaceutical company’s stock after buying an additional 302 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Vertex Pharmaceuticals were worth $1,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals in the third quarter valued at $25,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $31,000. Founders Capital Management grew its position in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $39,000. Institutional investors own 90.96% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the business’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 value of $2,689,860.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Sangeeta N. Bhatia sold 646 shares of the 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 transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents 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 this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the business’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 value of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,005 shares of company stock worth $5,988,066. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded down $1.51 during trading on Monday, hitting $476.19. 138,151 shares of the company’s stock traded hands, compared to its average volume of 1,166,140. The company has a 50-day moving average price of $475.61 and a 200-day moving average price of $462.73. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week 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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share 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 company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned $3.53 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VRTX shares. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. HC Wainwright reissued a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Finally, StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $492.92.

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.