Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by Lion Street Advisors LLC

Lion Street Advisors LLC trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 501 shares of the pharmaceutical company’s stock after selling 127 shares during the quarter. Lion Street Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Allworth Financial LP boosted its position in shares of Vertex Pharmaceuticals by 5.4% in the fourth quarter. Allworth Financial LP now owns 1,143 shares of the pharmaceutical company’s stock worth $465,000 after buying an additional 59 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Vertex Pharmaceuticals by 3.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 3,126 shares of the pharmaceutical company’s stock worth $1,272,000 after buying an additional 111 shares during the period. Valley National Advisers Inc. boosted its position in shares of Vertex Pharmaceuticals by 32.8% in the fourth quarter. Valley National Advisers Inc. now owns 174 shares of the pharmaceutical company’s stock worth $70,000 after buying an additional 43 shares during the period. Strategic Blueprint LLC acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth $267,000. Finally, International Assets Investment Management LLC boosted its position in shares of Vertex Pharmaceuticals by 21,750.1% in the fourth quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock worth $46,853,000 after buying an additional 114,623 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock traded up $2.49 during trading on Friday, reaching $468.45. The company’s stock had a trading volume of 791,680 shares, compared to its average volume of 1,222,840. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. The business’s fifty day moving average price is $481.41 and its 200-day moving average price is $440.95. The firm has a market cap of $120.88 billion, a price-to-earnings ratio of 30.40 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a one year low of $340.83 and a one year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm posted $3.53 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VRTX shares. Canaccord Genuity Group raised their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Guggenheim lifted their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada reduced their price objective on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 11th. Finally, Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $485.91.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Vertex Pharmaceuticals news, CEO Reshma Kewalramani sold 1,565 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares of the company’s stock, valued at $55,467,918. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the sale, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. Insiders have sold 55,703 shares of company stock worth $26,615,855 over the last three months. Company insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

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.