Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Cypress Capital Group

Cypress Capital Group cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,278 shares of the pharmaceutical company’s stock after selling 87 shares during the quarter. Cypress Capital Group’s holdings in Vertex Pharmaceuticals were worth $594,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. Finally, Founders Capital Management increased its holdings 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. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Trading Down 0.4 %

NASDAQ VRTX opened at $449.32 on Friday. The company’s fifty day simple moving average is $474.80 and its 200-day simple moving average is $472.58. Vertex Pharmaceuticals Incorporated has a 52 week low of $346.29 and a 52 week high of $519.88. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The stock has a market cap of $115.71 billion, a P/E ratio of -225.79 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the company posted $3.67 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on VRTX shares. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada lifted their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 5th. Bank of America lowered their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a report on Monday, October 14th. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Finally, Oppenheimer lowered their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $499.12.

Insider Buying and Selling

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction 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 completion of the sale, the chairman now owns 9,994 shares in the company, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,445 shares of company stock worth $2,218,394. Insiders own 0.20% of the company’s stock.

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.