Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by True Vision MN LLC

True Vision MN LLC lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.7% in the third quarter, Holdings Channel.com reports. The fund owned 943 shares of the pharmaceutical company’s stock after selling 101 shares during the quarter. True Vision MN LLC’s holdings in Vertex Pharmaceuticals were worth $439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter worth $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter valued at about $29,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at about $31,000. Finally, Founders Capital Management raised its holdings in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of a number of recent analyst reports. Truist Financial restated a “buy” rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Piper Sandler lifted their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, Citigroup began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 target price for the company. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $504.38.

Vertex Pharmaceuticals Price Performance

VRTX stock traded down $1.51 during trading on Wednesday, hitting $465.56. The company had a trading volume of 111,441 shares, compared to its average volume of 1,187,820. The business has a 50 day moving average of $473.27 and a 200 day moving average of $474.35. The firm has a market capitalization of $119.90 billion, a price-to-earnings ratio of -234.71 and a beta of 0.39. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $346.29 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the firm posted $3.67 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s 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 completion of the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction 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 sale, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,445 shares of company stock valued at $2,218,394. Corporate insiders own 0.20% of the company’s stock.

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.