Cedrus LLC Purchases 120 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Cedrus LLC boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 774 shares of the pharmaceutical company’s stock after purchasing an additional 120 shares during the period. Cedrus LLC’s holdings in Vertex Pharmaceuticals were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals in the 1st quarter worth about $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $31,000. Founders Capital Management lifted its position 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. Finally, ZRC Wealth Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $39,000. 90.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRTX. TD Cowen upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Canaccord Genuity Group upped their price target 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. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday. They issued a “sector perform” rating and a $480.00 price target for the company. HC Wainwright upped their price target on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada lowered their price target on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $492.92.

Vertex Pharmaceuticals Trading Down 3.2 %

NASDAQ VRTX opened at $483.00 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The company has a fifty day simple moving average of $475.21 and a two-hundred day simple moving average of $459.87. 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 released its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.53 EPS. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, CEO Reshma Kewalramani sold 15,202 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction 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 approximately $52,767,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This represents 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 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

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.