HWG Holdings LP Acquires 2,269 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

HWG Holdings LP grew its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 25,211.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,278 shares of the pharmaceutical company’s stock after purchasing an additional 2,269 shares during the period. HWG Holdings LP’s holdings in Vertex Pharmaceuticals were worth $1,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. Groesbeck Investment Management Corp NJ grew its stake in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock worth $841,000 after acquiring an additional 21 shares during the last quarter. Institute for Wealth Management LLC. grew its holdings in Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after purchasing an additional 22 shares during the period. Drive Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after acquiring an additional 22 shares during the period. Daymark Wealth Partners LLC increased its stake in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after purchasing an additional 22 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in Vertex Pharmaceuticals by 5.7% in the 3rd quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock worth $191,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.4 %

NASDAQ:VRTX opened at $471.91 on Friday. The company has a market capitalization of $121.80 billion, a P/E ratio of -232.47 and a beta of 0.40. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The firm has a fifty day simple moving average of $475.60 and a 200-day simple moving average of $461.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm 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 firm posted $3.53 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of research analyst reports. 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 for the company in a report on Friday, October 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. UBS Group increased their price objective on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and set a $600.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday. Finally, Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $492.92.

Insider Activity

In related news, 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 completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated 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 sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This trade 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 at this hyperlink. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,005 shares of company stock valued at $5,988,066 in the last ninety days. 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.