Qsemble Capital Management LP Buys 513 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Qsemble Capital Management LP lifted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 68.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,264 shares of the pharmaceutical company’s stock after acquiring an additional 513 shares during the quarter. Qsemble Capital Management LP’s holdings in Vertex Pharmaceuticals were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the third quarter worth $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the second quarter worth $29,000. Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals in the second quarter worth $31,000. Finally, Founders Capital Management raised its holdings in Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on VRTX shares. Oppenheimer decreased their price objective on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Truist Financial reiterated a “buy” rating and issued a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada increased their target price on Vertex Pharmaceuticals from $437.00 to $451.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $600.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $504.38.

Vertex Pharmaceuticals Stock Down 0.5 %

NASDAQ VRTX opened at $464.56 on Thursday. The stock’s 50-day moving average price is $473.08 and its 200-day moving average price is $474.28. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 52 week low of $346.29 and a 52 week high of $519.88. The company has a market capitalization of $119.64 billion, a P/E ratio of -233.45 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.67 earnings per share. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

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 stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 27.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,445 shares of company stock valued at $2,218,394. 0.20% of the stock is owned by company insiders.

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.