Keudell Morrison Wealth Management Sells 285 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Keudell Morrison Wealth Management lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 30.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 646 shares of the pharmaceutical company’s stock after selling 285 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Vertex Pharmaceuticals were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC lifted its stake in Vertex Pharmaceuticals by 61.3% during the 1st quarter. Norden Group LLC now owns 992 shares of the pharmaceutical company’s stock valued at $415,000 after acquiring an additional 377 shares during the period. Quent Capital LLC boosted its holdings in Vertex Pharmaceuticals by 33.0% in the first quarter. Quent Capital LLC now owns 399 shares of the pharmaceutical company’s stock worth $167,000 after purchasing an additional 99 shares during the last quarter. Larson Financial Group LLC grew its position in Vertex Pharmaceuticals by 714.3% in the 1st quarter. Larson Financial Group LLC now owns 228 shares of the pharmaceutical company’s stock worth $95,000 after purchasing an additional 200 shares during the period. Advisory Alpha LLC purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $356,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Vertex Pharmaceuticals by 31.7% during the 1st quarter. Advisory Services Network LLC now owns 9,751 shares of the pharmaceutical company’s stock valued at $4,076,000 after buying an additional 2,348 shares during the period. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VRTX. Royal Bank of Canada upped their price objective on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research report on Tuesday. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $472.00 to $509.00 in a research report on Monday, August 5th. Canaccord Genuity Group boosted their target price on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday. UBS Group increased their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Truist Financial restated a “buy” rating and issued a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a research note on Monday, August 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $495.96.

Vertex Pharmaceuticals Price Performance

VRTX stock traded down $3.56 during mid-day trading on Thursday, hitting $490.08. The company had a trading volume of 57,656 shares, compared to its average volume of 1,166,942. The company has a 50-day moving average price of $474.81 and a 200 day moving average price of $466.95. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The company has a market capitalization of $126.49 billion, a price-to-earnings ratio of -248.06 and a beta of 0.39. 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 announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.88% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the company earned $3.67 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.04 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction 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 completion of the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was 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 through this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now owns 9,994 shares in the company, valued at $4,987,006. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.