Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by WP Advisors LLC

WP Advisors LLC lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,199 shares of the pharmaceutical company’s stock after selling 845 shares during the quarter. WP Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,488,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Groesbeck Investment Management Corp NJ increased its holdings in shares of Vertex Pharmaceuticals by 1.2% during the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after acquiring an additional 21 shares in the last quarter. Mutual Advisors LLC increased its holdings in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. increased its holdings in Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after buying an additional 22 shares during the period. Drive Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after buying an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC increased its holdings in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $465.70 on Monday. The stock has a fifty day simple moving average of $476.39 and a two-hundred day simple moving average of $472.09. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $519.88.

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. Analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Truist Financial reiterated a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Scotiabank increased their price target on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Finally, Piper Sandler upped their price objective on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $499.12.

Insider Buying and Selling

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 $4,987,006. This trade represents a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.