Global Assets Advisory LLC Makes New $423,000 Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Global Assets Advisory LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 901 shares of the pharmaceutical company’s stock, valued at approximately $423,000.

Other large investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Annapolis Financial Services LLC bought a new stake in Vertex Pharmaceuticals in the 1st quarter worth approximately $27,000. Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management boosted its holdings in shares of Vertex Pharmaceuticals by 50.0% in the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VRTX shares. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. TD Cowen lifted their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Redburn Atlantic started coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price for the company. Finally, StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $492.92.

Vertex Pharmaceuticals Stock Down 1.0 %

Shares of NASDAQ:VRTX opened at $470.05 on Thursday. The business’s 50-day moving average is $475.60 and its 200 day moving average is $461.29. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. 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 the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the company earned $3.53 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was 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 in the company, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred 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 transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,005 shares of company stock worth $5,988,066. 0.20% of the stock is currently owned by insiders.

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.