6,307 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,307 shares of the pharmaceutical company’s stock, valued at approximately $2,933,000.

Several other hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter worth $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $29,000. Stephens Consulting LLC acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $31,000. Finally, Founders Capital Management grew its position in shares of Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 completion of the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $516.74 on Friday. The company’s fifty day moving average price is $475.40 and its two-hundred day moving average price is $468.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.26. The firm has a market capitalization of $133.08 billion, a P/E ratio of -259.67 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the firm posted $3.67 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. UBS Group raised their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Piper Sandler upped their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. TD Cowen upped their price objective on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $495.96.

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.