Joseph Group Capital Management Has $2.64 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Joseph Group Capital Management increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 17.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,672 shares of the pharmaceutical company’s stock after purchasing an additional 855 shares during the period. Vertex Pharmaceuticals makes up 1.0% of Joseph Group Capital Management’s portfolio, making the stock its 29th biggest position. Joseph Group Capital Management’s holdings in Vertex Pharmaceuticals were worth $2,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Creative Planning raised its holdings in shares of Vertex Pharmaceuticals by 5.3% in the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after buying an additional 3,998 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 640.0% during the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock valued at $676,000 after acquiring an additional 1,248 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $74,213,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth about $21,008,000. Finally, Mizuho Securities USA LLC grew its holdings in shares of Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after purchasing an additional 57,497 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction dated 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 transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Trading Up 0.3 %

VRTX opened at $467.01 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The company has a fifty day simple moving average of $476.31 and a 200 day simple moving average of $472.56.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler boosted their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Guggenheim lifted their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $499.12.

Vertex Pharmaceuticals Company 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.