Nicolet Advisory Services LLC increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 641 shares of the pharmaceutical company’s stock after buying an additional 28 shares during the period. Nicolet Advisory Services LLC’s holdings in Vertex Pharmaceuticals were worth $291,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals during the third quarter worth $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management lifted its stake in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.
Vertex Pharmaceuticals Trading Up 0.1 %
Shares of NASDAQ VRTX opened at $450.97 on Monday. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average is $474.11 and its two-hundred day moving average is $473.74. Vertex Pharmaceuticals Incorporated has a 12-month low of $346.29 and a 12-month high of $519.88.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Citigroup started coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $575.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $504.38.
Read Our Latest Report on VRTX
Insiders Place Their Bets
In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s 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 transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,445 shares of company stock valued at $2,218,394 in the last ninety days. Insiders own 0.20% of the company’s stock.
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.
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