FSM Wealth Advisors LLC Makes New Investment in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

FSM Wealth Advisors LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 439 shares of the pharmaceutical company’s stock, valued at approximately $204,000.

A number of other institutional investors have also bought and sold shares of the business. First National Bank of Mount Dora Trust Investment Services increased its stake in Vertex Pharmaceuticals by 33.8% in the 3rd quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,879 shares of the pharmaceutical company’s stock worth $5,525,000 after buying an additional 2,998 shares in the last quarter. PDS Planning Inc increased its stake in Vertex Pharmaceuticals by 3.3% in the 3rd quarter. PDS Planning Inc now owns 842 shares of the pharmaceutical company’s stock worth $392,000 after buying an additional 27 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Vertex Pharmaceuticals by 1.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 135,187 shares of the pharmaceutical company’s stock worth $62,873,000 after buying an additional 1,427 shares in the last quarter. National Pension Service increased its stake in Vertex Pharmaceuticals by 10.7% in the 3rd quarter. National Pension Service now owns 511,047 shares of the pharmaceutical company’s stock worth $237,678,000 after buying an additional 49,402 shares in the last quarter. Finally, Vestor Capital LLC boosted its holdings in shares of Vertex Pharmaceuticals by 16.4% during the 3rd quarter. Vestor Capital LLC now owns 362 shares of the pharmaceutical company’s stock valued at $168,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on VRTX shares. HC Wainwright reissued a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Royal Bank of Canada increased their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday. Scotiabank increased their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a report on Tuesday. Canaccord Genuity Group increased their price objective 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. Finally, Truist Financial reissued a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $494.63.

Insider Transactions at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s 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 transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals 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 transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals 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 directly owns 4,435 shares in the company, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $499.88 on Wednesday. The firm’s 50 day simple moving average is $474.73 and its 200-day simple moving average is $466.76. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year 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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued 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. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.88%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $3.67 earnings per share. Analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current year.

Vertex Pharmaceuticals 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.