Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stake Raised by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3,507.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,163 shares of the pharmaceutical company’s stock after buying an additional 19,604 shares during the quarter. SteelPeak Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $9,377,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VRTX. Diversify Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 27.2% in the third quarter. Diversify Wealth Management LLC now owns 3,746 shares of the pharmaceutical company’s stock worth $1,761,000 after purchasing an additional 800 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Vertex Pharmaceuticals by 6.1% in the third quarter. First Trust Direct Indexing L.P. now owns 5,868 shares of the pharmaceutical company’s stock worth $2,729,000 after purchasing an additional 335 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Vertex Pharmaceuticals by 18.1% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 660 shares of the pharmaceutical company’s stock valued at $311,000 after buying an additional 101 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the 3rd quarter worth about $27,000. Finally, Adams Diversified Equity Fund Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $16,324,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s 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 approximately $2,217,500. 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 is available through the SEC website. In other Vertex Pharmaceuticals news, 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 transaction of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $2,689,860.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,005 shares of company stock valued at $5,988,066 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, October 8th. Royal Bank of Canada cut their price target on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $492.50.

Vertex Pharmaceuticals Stock Up 0.8 %

VRTX traded up $3.54 on Wednesday, reaching $473.90. 256,959 shares of the company traded hands, compared to its average volume of 1,162,741. The company has a market cap of $122.31 billion, a price-to-earnings ratio of -233.63 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The stock’s 50 day moving average price is $475.03 and its 200-day moving average price is $463.79. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.53 earnings per share. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

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.