Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Bought by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 212.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,185 shares of the pharmaceutical company’s stock after buying an additional 3,528 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $2,411,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VRTX. RFG Advisory LLC raised its holdings in shares of Vertex Pharmaceuticals by 30.5% in the first quarter. RFG Advisory LLC now owns 1,415 shares of the pharmaceutical company’s stock worth $591,000 after acquiring an additional 331 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Vertex Pharmaceuticals by 4.7% in the first quarter. AdvisorNet Financial Inc now owns 1,186 shares of the pharmaceutical company’s stock valued at $496,000 after purchasing an additional 53 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in Vertex Pharmaceuticals by 143.5% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,706 shares of the pharmaceutical company’s stock valued at $2,385,000 after purchasing an additional 3,363 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Vertex Pharmaceuticals by 47.2% in the first quarter. Sunbelt Securities Inc. now owns 1,749 shares of the pharmaceutical company’s stock valued at $731,000 after purchasing an additional 561 shares during the last quarter. Finally, Brookstone Capital Management grew its position in Vertex Pharmaceuticals by 11.1% during the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after acquiring an additional 237 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Sangeeta N. Bhatia sold 646 shares of the 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 directly owns 4,435 shares in the company, 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 accessible through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,005 shares of company stock valued at $5,988,066 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $8.95 on Wednesday, reaching $465.96. The company’s stock had a trading volume of 296,298 shares, compared to its average volume of 1,170,830. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64. The company has a market capitalization of $120.24 billion, a P/E ratio of 30.82 and a beta of 0.40. The firm has a fifty day moving average of $475.63 and a two-hundred day moving average of $461.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share 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 the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.53 earnings per share. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and issued a $550.00 target price (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. Bank of America reduced their price target on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating for the company in a report on Monday, October 14th. Raymond James reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $600.00 price target on shares of Vertex Pharmaceuticals in a report on Monday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $492.92.

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.