Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Peak Financial Management Inc.

Peak Financial Management Inc. increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 28.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 680 shares of the pharmaceutical company’s stock after acquiring an additional 150 shares during the quarter. Peak Financial Management Inc.’s holdings in Vertex Pharmaceuticals were worth $316,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Integrated Advisors Network LLC raised its stake in Vertex Pharmaceuticals by 8.5% during the fourth quarter. Integrated Advisors Network LLC now owns 1,962 shares of the pharmaceutical company’s stock worth $798,000 after purchasing an additional 153 shares during the period. Centaurus Financial Inc. raised its stake in Vertex Pharmaceuticals by 24.9% during the fourth quarter. Centaurus Financial Inc. now owns 581 shares of the pharmaceutical company’s stock worth $236,000 after purchasing an additional 116 shares during the period. Fisher Asset Management LLC raised its stake in Vertex Pharmaceuticals by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 26,680 shares of the pharmaceutical company’s stock worth $10,856,000 after purchasing an additional 334 shares during the period. HighPoint Advisor Group LLC purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $1,493,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Vertex Pharmaceuticals during the fourth quarter worth approximately $239,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.1 %

NASDAQ:VRTX traded down $0.52 during trading hours on Tuesday, hitting $484.30. 1,250,966 shares of the stock traded hands, compared to its average volume of 1,175,475. The firm has a 50 day moving average price of $473.64 and a 200 day moving average price of $458.14. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The firm has a market cap of $124.98 billion, a price-to-earnings ratio of 31.46 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the company posted $3.53 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reshma Kewalramani sold 15,202 shares of Vertex Pharmaceuticals stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $497.00, for a total transaction of $7,555,394.00. Following the transaction, the chief executive officer now directly owns 106,172 shares in the company, valued at approximately $52,767,484. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,487 shares of company stock valued at $14,657,149 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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. Piper Sandler raised their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. HC Wainwright raised their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Canaccord Genuity Group raised their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Finally, Redburn Atlantic assumed coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Hold” and an average target price of $489.30.

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.