Strategic Advisors LLC Decreases Position in Vertex Pharmaceuticals Incorporated $VRTX

Strategic Advisors LLC reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 90.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 812 shares of the pharmaceutical company’s stock after selling 7,482 shares during the period. Strategic Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after buying an additional 579 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Vertex Pharmaceuticals in the second quarter worth about $228,000. NewEdge Advisors LLC increased its position in Vertex Pharmaceuticals by 9.0% during the 2nd quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after buying an additional 986 shares in the last quarter. ICW Investment Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 5.0% in the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock worth $269,000 after acquiring an additional 29 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its stake in shares of Vertex Pharmaceuticals by 26.3% in the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after acquiring an additional 1,518 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $541.69 on Monday. The stock has a market capitalization of $137.48 billion, a P/E ratio of 31.53, a P/E/G ratio of 2.35 and a beta of 0.30. The company’s 50-day simple moving average is $502.08 and its two-hundred day simple moving average is $468.65. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $555.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.52 earnings per share. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. The trade was a 3.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the transaction, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. The trade was a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 10,464 shares of company stock valued at $4,959,397. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of analyst reports. Weiss Ratings cut shares of Vertex Pharmaceuticals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 25th. Barclays lifted their target price on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Truist Financial upped their target price on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein raised shares of Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. Finally, TD Cowen boosted their price objective on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $563.50.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.