Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 44.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,429 shares of the pharmaceutical company’s stock after acquiring an additional 3,200 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Vertex Pharmaceuticals were worth $4,850,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Groesbeck Investment Management Corp NJ increased its holdings in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after acquiring an additional 21 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in shares of Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after acquiring an additional 22 shares in the last quarter. Drive Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after acquiring an additional 22 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in 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 buying an additional 22 shares during the last quarter. Finally, RFP Financial Group LLC boosted its position in 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 buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,487 shares of company stock valued at $14,657,149. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on VRTX shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Canaccord Genuity Group upped their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $486.95.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock traded up $5.56 during trading hours on Friday, hitting $481.71. 940,274 shares of the company’s stock were exchanged, compared to its average volume of 1,023,351. 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 firm has a market cap of $124.33 billion, a P/E ratio of -237.30 and a beta of 0.40. The firm has a 50 day moving average of $473.48 and a two-hundred day moving average of $457.39. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the company posted $3.53 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

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.