Qsemble Capital Management LP Has $588,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Qsemble Capital Management LP boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 68.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,264 shares of the pharmaceutical company’s stock after purchasing an additional 513 shares during the quarter. Qsemble Capital Management LP’s holdings in Vertex Pharmaceuticals were worth $588,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of VRTX. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter worth $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter worth $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $29,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $31,000. Finally, Founders Capital Management boosted its holdings 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 acquiring an additional 25 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.5 %

Shares of NASDAQ VRTX opened at $464.56 on Thursday. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $119.64 billion, a price-to-earnings ratio of -233.45 and a beta of 0.39. The business has a 50-day moving average of $473.08 and a 200-day moving average of $474.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.77. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.67 earnings per share. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the completion of the sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 27.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,445 shares of company stock valued at $2,218,394 over the last quarter. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup assumed coverage on Vertex Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $575.00 target price on the stock. StockNews.com cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 21st. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Bank of America lowered their target price on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, UBS Group lifted their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $504.38.

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.