Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 832 shares of the pharmaceutical company’s stock after acquiring an additional 100 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Vertex Pharmaceuticals were worth $390,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VRTX. Foster & Motley Inc. acquired a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $216,000. Deseret Mutual Benefit Administrators lifted its position in shares of Vertex Pharmaceuticals by 61.7% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 173 shares of the pharmaceutical company’s stock valued at $81,000 after acquiring an additional 66 shares in the last quarter. Mattern Capital Management LLC boosted its stake in Vertex Pharmaceuticals by 22.2% in the 2nd quarter. Mattern Capital Management LLC now owns 1,587 shares of the pharmaceutical company’s stock worth $744,000 after purchasing an additional 288 shares during the period. Strategy Asset Managers LLC grew its position in Vertex Pharmaceuticals by 88.2% during the 2nd quarter. Strategy Asset Managers LLC now owns 4,514 shares of the pharmaceutical company’s stock worth $2,116,000 after purchasing an additional 2,116 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Larson Financial Group LLC now owns 342 shares of the pharmaceutical company’s stock valued at $160,000 after purchasing an additional 114 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $550.00 price target (up from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Wells Fargo & Company increased their target price on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Piper Sandler increased 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. Finally, Redburn Atlantic assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $485.91.

Insider Activity

In related news, CEO Reshma Kewalramani sold 15,202 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at $52,767,484. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertex Pharmaceuticals news, 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 sale, the director now owns 4,435 shares in the company, valued at $2,217,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the completion of the transaction, the chief executive officer now owns 106,172 shares of the company’s stock, valued at approximately $52,767,484. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,615 shares of company stock valued at $21,417,310. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $468.57 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $340.83 and a 12 month high of $510.64. The company has a market cap of $120.94 billion, a P/E ratio of 30.41 and a beta of 0.40. The business’s 50 day moving average is $483.32 and its two-hundred day moving average is $448.06. 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 (NASDAQ:VRTX) last announced its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm posted $3.53 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.85 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.