ASB Consultores LLC Increases Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

ASB Consultores LLC lifted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 953 shares of the pharmaceutical company’s stock after purchasing an additional 163 shares during the period. ASB Consultores LLC’s holdings in Vertex Pharmaceuticals were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $25,000. Highline Wealth Partners LLC purchased a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $31,000. Finally, Founders Capital Management boosted its position in Vertex Pharmaceuticals by 50.0% during 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. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on VRTX. Royal Bank of Canada lowered their target price on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Raymond James reaffirmed a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $492.50.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $472.80 on Tuesday. The business has a fifty day simple moving average of $474.34 and a 200-day simple moving average of $466.02. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Insiders Place Their Bets

In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction 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 approximately $11,088,728.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Vertex Pharmaceuticals 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 sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 owns 23,259 shares in the company, valued at $11,088,728.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,710 shares of company stock worth $3,298,206. 0.20% of the stock is owned by corporate insiders.

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.