LCM Capital Management Inc Purchases 58 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

LCM Capital Management Inc boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,054 shares of the pharmaceutical company’s stock after acquiring an additional 58 shares during the period. LCM Capital Management Inc’s holdings in Vertex Pharmaceuticals were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Capital World Investors lifted its stake in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after purchasing an additional 3,761,414 shares during the period. Capital Research Global Investors grew its position in shares of Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after buying an additional 2,176,218 shares during the period. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock valued at $1,999,080,000 after acquiring an additional 837,461 shares during the period. Swedbank AB bought a new position in Vertex Pharmaceuticals during the 1st quarter worth approximately $277,317,000. Finally, AMF Tjanstepension AB acquired a new position in Vertex Pharmaceuticals during the second quarter valued at approximately $257,655,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.2 %

Vertex Pharmaceuticals stock opened at $475.98 on Friday. The stock’s 50 day moving average is $474.73 and its 200 day moving average is $463.95. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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 firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned $3.53 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Canaccord Genuity Group increased their price target on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. HC Wainwright reaffirmed a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, October 21st. Piper Sandler boosted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $492.50.

Insider Buying and Selling

In related news, 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 transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the transaction, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,710 shares of company stock valued at $3,298,206 over the last 90 days. Company 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.