Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,249 shares of the pharmaceutical company’s stock after selling 78 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Vertex Pharmaceuticals were worth $585,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new position in Vertex Pharmaceuticals during the 4th quarter worth $25,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Annapolis Financial Services LLC purchased a new position in Vertex Pharmaceuticals during the 1st quarter worth $27,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $31,000. Finally, ICA Group Wealth Management LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.4 %

NASDAQ VRTX opened at $485.37 on Monday. The firm has a market capitalization of $125.25 billion, a price-to-earnings ratio of 31.50 and a beta of 0.40. The company’s 50 day moving average price is $483.72 and its 200 day moving average price is $450.41. Vertex Pharmaceuticals Incorporated has a one year low of $341.85 and a one year high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data 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). The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.53 EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. HC Wainwright increased their price target on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a report on Monday, August 5th. Argus increased their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $485.91.

Insider Activity

In other news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 sale, the chief executive officer now owns 106,172 shares in the company, valued at $52,767,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 sale, the chief executive officer now owns 106,172 shares in the company, valued at $52,767,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was 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 owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock worth $16,843,806 over the last 90 days. Company insiders own 0.20% of the company’s stock.

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.