Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Avior Wealth Management LLC

Avior Wealth Management LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,533 shares of the pharmaceutical company’s stock after buying an additional 113 shares during the quarter. Avior Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at about $27,000. GHP Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $29,000. Stephens Consulting LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $31,000. Finally, Founders Capital Management raised its stake in shares of 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 purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Up 0.7 %

Shares of Vertex Pharmaceuticals stock opened at $451.23 on Thursday. The stock has a market capitalization of $116.21 billion, a P/E ratio of -226.75 and a beta of 0.39. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $475.38 and a two-hundred day moving average price of $472.74. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the business earned $3.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current year.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value 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 $2,217,500. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,445 shares of company stock valued at $2,218,394. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VRTX. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $600.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $499.12.

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.