Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock Position Raised by United Asset Strategies Inc.

United Asset Strategies Inc. increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,755 shares of the pharmaceutical company’s stock after acquiring an additional 82 shares during the quarter. United Asset Strategies Inc.’s holdings in Vertex Pharmaceuticals were worth $1,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth $29,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $31,000. Finally, Founders Capital Management raised its position in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on VRTX. Royal Bank of Canada lowered their target price on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Scotiabank assumed coverage on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. HC Wainwright restated a “buy” rating and set a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Finally, Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $492.50.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $2.22 during mid-day trading on Thursday, hitting $472.86. The company had a trading volume of 170,162 shares, compared to its average volume of 1,160,301. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The firm has a market cap of $122.05 billion, a P/E ratio of -234.03 and a beta of 0.40. The business’s 50-day simple moving average is $474.81 and its 200-day simple moving average is $463.87.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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 the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.53 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction 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 completion of the transaction, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This trade 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 this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated Friday, August 30th. The stock was 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 of the company’s stock, valued at $2,217,500. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,710 shares of company stock worth $3,298,206 over the last 90 days. Corporate 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.