Kessler Investment Group LLC Cuts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Kessler Investment Group LLC lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,770 shares of the pharmaceutical company’s stock after selling 268 shares during the period. Vertex Pharmaceuticals comprises 3.3% of Kessler Investment Group LLC’s holdings, making the stock its 12th largest position. Kessler Investment Group LLC’s holdings in Vertex Pharmaceuticals were worth $6,404,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at $25,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter worth about $29,000. Annapolis Financial Services LLC bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $27,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $31,000. Finally, Founders Capital Management boosted its holdings in Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,285 shares of company stock valued at $7,101,755 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $3.11 during trading on Tuesday, reaching $474.98. The stock had a trading volume of 115,013 shares, compared to its average volume of 1,169,996. The firm has a market cap of $122.57 billion, a PE ratio of 30.82 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’s 50 day moving average is $475.48 and its two-hundred day moving average is $460.75. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company earned $3.53 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Oppenheimer lifted their target price 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. Piper Sandler lifted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.