Transform Wealth LLC Grows Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Transform Wealth LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,009 shares of the pharmaceutical company’s stock after acquiring an additional 530 shares during the quarter. Transform Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $11,166,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Annapolis Financial Services LLC purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $29,000. Stephens Consulting LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $31,000. Founders Capital Management lifted its position 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 buying an additional 25 shares during the last quarter. Finally, ZRC Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter valued at about $39,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded down $1.12 during midday trading on Wednesday, reaching $483.18. 250,354 shares of the company’s stock traded hands, compared to its average volume of 1,170,849. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. The company has a market cap of $124.71 billion, a P/E ratio of -238.57 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The company has a fifty day simple moving average of $473.84 and a two-hundred day simple moving average of $458.61.

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 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 analysts’ expectations of $2.66 billion. During the same quarter last year, the business earned $3.53 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VRTX shares. Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective on the stock. Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada cut their price objective on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. TD Cowen upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Canaccord Genuity Group upped their price objective on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $488.92.

Insider Activity

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals 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 transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the completion of the transaction, the chief marketing officer now owns 23,259 shares in the company, valued at $11,088,728.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,487 shares of company stock worth $14,657,149 in the last quarter. 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.