Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,812 shares of the pharmaceutical company’s stock after purchasing an additional 30 shares during the quarter. Portside Wealth Group LLC’s holdings in Vertex Pharmaceuticals were worth $849,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of VRTX. International Assets Investment Management LLC grew its position in shares of Vertex Pharmaceuticals by 21,750.1% during the 4th quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock valued at $46,853,000 after acquiring an additional 114,623 shares during the period. Bison Wealth LLC purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $213,000. Mackenzie Financial Corp raised its stake in shares of Vertex Pharmaceuticals by 4.6% during the 4th quarter. Mackenzie Financial Corp now owns 86,827 shares of the pharmaceutical company’s stock worth $35,329,000 after buying an additional 3,856 shares during the period. Keel Point LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $229,000. Finally, Wealth Alliance purchased a new position in Vertex Pharmaceuticals during the fourth quarter valued at $214,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Transactions at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares in the company, valued at approximately $11,088,728.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value 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 $11,088,728.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the sale, the director now owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. Insiders sold a total of 55,703 shares of company stock worth $26,615,855 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on VRTX shares. Piper Sandler boosted their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. BMO Capital Markets increased their price objective on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Canaccord Genuity Group lifted their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Guggenheim increased their target price on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $485.91.

Vertex Pharmaceuticals Trading Up 1.1 %

NASDAQ VRTX traded up $5.37 during trading hours on Friday, reaching $477.37. The company had a trading volume of 1,181,337 shares, compared to its average volume of 1,219,119. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $123.21 billion, a P/E ratio of 30.98 and a beta of 0.39. The stock has a 50-day moving average of $480.54 and a 200 day moving average of $442.27. Vertex Pharmaceuticals Incorporated has a 1-year low of $340.83 and a 1-year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate 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 company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the company posted $3.53 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

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.