Everhart Financial Group Inc. Has $712,000 Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Everhart Financial Group Inc. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,519 shares of the pharmaceutical company’s stock after purchasing an additional 214 shares during the quarter. Everhart Financial Group Inc.’s holdings in Vertex Pharmaceuticals were worth $712,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Premier Path Wealth Partners LLC increased its position in Vertex Pharmaceuticals by 12.4% in the second quarter. Premier Path Wealth Partners LLC now owns 1,578 shares of the pharmaceutical company’s stock worth $740,000 after purchasing an additional 174 shares during the period. Catalina Capital Group LLC increased its position in Vertex Pharmaceuticals by 12.7% in the second quarter. Catalina Capital Group LLC now owns 781 shares of the pharmaceutical company’s stock worth $366,000 after purchasing an additional 88 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Vertex Pharmaceuticals by 1.6% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,839 shares of the pharmaceutical company’s stock worth $862,000 after purchasing an additional 29 shares during the period. My Legacy Advisors LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter worth about $1,221,000. Finally, &PARTNERS acquired a new stake in Vertex Pharmaceuticals in the second quarter worth about $893,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.3 %

Shares of Vertex Pharmaceuticals stock traded up $1.35 on Friday, reaching $481.24. 945,600 shares of the company were exchanged, compared to its average volume of 1,210,800. Vertex Pharmaceuticals Incorporated has a one year low of $340.83 and a one year high of $510.64. The company has a market capitalization of $124.19 billion, a price-to-earnings ratio of 31.23 and a beta of 0.39. 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 50-day moving average of $480.98 and a 200 day moving average of $444.04.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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 return on equity of 2.45% and a negative net margin of 4.74%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company earned $3.53 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $445.56, for a total transaction of $1,015,876.80. Following the transaction, the chief marketing officer now directly owns 34,659 shares of the company’s stock, valued at approximately $15,442,664.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $445.56, for a total value of $1,015,876.80. Following the transaction, the chief marketing officer now directly owns 34,659 shares in the company, valued at $15,442,664.04. The disclosure for this sale can be found here. Insiders have sold a total of 47,065 shares of company stock worth $22,731,946 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VRTX. 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. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Truist Financial restated a “buy” rating and set a $550.00 target price (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. TD Cowen boosted their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.