Motiv8 Investments LLC Boosts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Motiv8 Investments LLC boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,617 shares of the pharmaceutical company’s stock after buying an additional 207 shares during the quarter. Motiv8 Investments LLC’s holdings in Vertex Pharmaceuticals were worth $758,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brookstone Capital Management increased its holdings in Vertex Pharmaceuticals by 11.1% in the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock valued at $990,000 after buying an additional 237 shares during the last quarter. Brevan Howard Capital Management LP increased its holdings in Vertex Pharmaceuticals by 216.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 4,830 shares of the pharmaceutical company’s stock valued at $1,965,000 after buying an additional 3,303 shares during the last quarter. Greenwood Capital Associates LLC grew its holdings in shares of Vertex Pharmaceuticals by 11.3% during the fourth quarter. Greenwood Capital Associates LLC now owns 25,345 shares of the pharmaceutical company’s stock worth $10,313,000 after purchasing an additional 2,576 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $2,763,000. Finally, Blue Trust Inc. grew its holdings in shares of Vertex Pharmaceuticals by 640.0% during the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after purchasing an additional 1,248 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.1 %

Shares of VRTX stock traded down $0.57 on Friday, reaching $468.00. 1,090,355 shares of the stock were exchanged, compared to its average volume of 1,205,450. The stock has a market cap of $120.77 billion, a P/E ratio of 30.37 and a beta of 0.40. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $483.31 and a two-hundred day moving average of $448.38. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.85 and a 1-year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.53 earnings per share. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.85 EPS for the current year.

Wall Street Analyst Weigh In

VRTX has been the topic of several research reports. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Wells Fargo & Company raised their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. JPMorgan Chase & Co. raised their price target on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Redburn Atlantic started coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a “buy” rating and a $545.00 price target on the stock. Finally, Morgan Stanley raised their price target on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $485.91.

Insider Buying and Selling

In related news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were 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 approximately $20,320,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, EVP Edward Morrow Atkinson III sold 7,288 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total value of $3,483,664.00. Following the completion of the transaction, the executive vice president now directly owns 15,972 shares of the company’s stock, valued at approximately $7,634,616. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this sale can be found here. In the last three months, insiders sold 43,615 shares of company stock valued at $21,417,310. Company insiders own 0.20% of the company’s stock.

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.