MN Wealth Advisors LLC Grows Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

MN Wealth Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,728 shares of the pharmaceutical company’s stock after purchasing an additional 65 shares during the period. MN Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Stephens Consulting LLC purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. Founders Capital Management grew its stake in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Finally, ZRC Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $484.30 on Wednesday. The firm has a market cap of $125.00 billion, a PE ratio of -238.57 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $473.84 and its two-hundred day moving average is $458.61.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its 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 return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned $3.53 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VRTX shares. Wells Fargo & Company upped their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. HC Wainwright boosted 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. StockNews.com lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. TD Cowen boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $371.00 to $376.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $489.30.

Insider Buying and Selling at Vertex Pharmaceuticals

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 value of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 value of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the 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 directly owns 9,994 shares in the company, valued at approximately $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,487 shares of company stock valued at $14,657,149. 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.