Deseret Mutual Benefit Administrators Increases Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Deseret Mutual Benefit Administrators lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 27.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 220 shares of the pharmaceutical company’s stock after purchasing an additional 47 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Vertex Pharmaceuticals were worth $102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $27,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management increased its holdings in 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 buying an additional 25 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Guggenheim increased their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group raised their price objective on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. StockNews.com raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $495.96.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated 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 directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 1.8 %

NASDAQ VRTX opened at $502.45 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The company has a current ratio of 2.47, a quick ratio of 2.26 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $474.81 and its 200-day simple moving average is $466.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The firm 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $3.67 EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.04 EPS for the current year.

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.