Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,803 shares of the pharmaceutical company’s stock after selling 157 shares during the period. Griffin Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $3,680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC increased its position in Vertex Pharmaceuticals by 97.1% in the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 shares during the period. ICA Group Wealth Management LLC bought a new stake in Vertex Pharmaceuticals in the fourth quarter valued at $28,000. Fortitude Family Office LLC acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at $30,000. Finally, Baystate Wealth Management LLC grew its position in shares of Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on VRTX shares. HC Wainwright restated a “buy” rating and issued a $462.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Wells Fargo & Company raised their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target for the company in a research report on Thursday, April 11th. Guggenheim raised their price target on Vertex Pharmaceuticals from $445.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Argus lifted their price objective on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $448.61.

Insider Activity

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the transaction, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Reshma Kewalramani sold 1,565 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the completion of the sale, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total value of $1,075,521.60. Following the completion of the transaction, the chief marketing officer now owns 30,099 shares in the company, valued at approximately $14,198,300.28. The disclosure for this sale can be found here. Insiders sold 28,366 shares of company stock worth $13,058,787 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.8 %

VRTX traded down $3.79 during trading on Friday, reaching $468.72. The company had a trading volume of 3,234,634 shares, compared to its average volume of 1,247,780. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. Vertex Pharmaceuticals Incorporated has a 12-month low of $335.82 and a 12-month high of $486.42. The company has a market cap of $120.95 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.43 and a beta of 0.41. The firm’s 50-day simple moving average is $444.89 and its 200 day simple moving average is $426.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business earned $2.67 earnings per share. The firm’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.