Americana Partners LLC Boosts Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Americana Partners LLC boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 53.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,200 shares of the pharmaceutical company’s stock after purchasing an additional 3,572 shares during the period. Americana Partners LLC’s holdings in Vertex Pharmaceuticals were worth $4,781,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $25,000. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $27,000. Stephens Consulting LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth $31,000. ICA Group Wealth Management LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at $28,000. Finally, Founders Capital Management increased its stake in shares of Vertex Pharmaceuticals by 50.0% in the 2nd 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 currently owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of VRTX traded up $2.54 during mid-day trading on Friday, hitting $495.89. 1,809,666 shares of the stock were exchanged, compared to its average volume of 1,206,899. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The company has a market cap of $127.99 billion, a PE ratio of 32.18 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $340.83 and a 52-week high of $510.64. The firm has a 50-day moving average of $482.85 and a two-hundred day moving average of $446.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the company earned $3.53 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the sale, the executive vice president now directly owns 15,972 shares in the company, valued at $7,634,616. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Vertex Pharmaceuticals news, EVP Edward Morrow Atkinson III sold 7,288 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the completion of the transaction, the executive vice president now directly owns 15,972 shares of the company’s stock, valued at $7,634,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Carmen Bozic sold 2,280 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,185 shares of company stock valued at $19,206,094. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of several analyst reports. StockNews.com downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. HC Wainwright lifted their price objective on Vertex Pharmaceuticals from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets increased their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. Finally, Royal Bank of Canada reduced their price objective on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Hold” and a consensus 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.