Fairfield Financial Advisors LTD Takes $176,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Fairfield Financial Advisors LTD purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 376 shares of the pharmaceutical company’s stock, valued at approximately $176,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $25,000. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $28,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $29,000. Finally, Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $31,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction that occurred 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 transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares in the company, valued at $20,320,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,047 shares of company stock valued at $16,843,806. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.4 %

Shares of Vertex Pharmaceuticals stock opened at $485.37 on Monday. The firm has a market cap of $125.25 billion, a PE ratio of 31.50 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64. The business’s fifty day moving average is $483.72 and its two-hundred day moving average is $450.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results 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). The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.53 earnings per share. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VRTX shares. StockNews.com lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada cut their price target on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a report on Tuesday, June 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, TD Cowen boosted their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $485.91.

Vertex Pharmaceuticals Company 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.