Strategic Financial Concepts LLC Invests $11.07 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Strategic Financial Concepts LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,625 shares of the pharmaceutical company’s stock, valued at approximately $11,074,000.

A number of other large investors have also recently bought and sold shares of the business. Aveo Capital Partners LLC grew its stake in Vertex Pharmaceuticals by 77.3% during the fourth quarter. Aveo Capital Partners LLC now owns 1,076 shares of the pharmaceutical company’s stock worth $438,000 after purchasing an additional 469 shares during the period. Gryphon Financial Partners LLC grew its position in shares of Vertex Pharmaceuticals by 26.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,978 shares of the pharmaceutical company’s stock worth $805,000 after buying an additional 414 shares during the period. Wealthspire Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 47.0% during the 4th quarter. Wealthspire Advisors LLC now owns 969 shares of the pharmaceutical company’s stock valued at $394,000 after acquiring an additional 310 shares during the period. Montag A & Associates Inc. boosted its stake in Vertex Pharmaceuticals by 108.1% during the fourth quarter. Montag A & Associates Inc. now owns 385 shares of the pharmaceutical company’s stock worth $157,000 after acquiring an additional 200 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth $962,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on VRTX shares. StockNews.com cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, August 2nd. BMO Capital Markets raised their price objective on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Finally, TD Cowen boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $485.91.

Insider Activity

In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now directly owns 4,435 shares of the company’s stock, valued at $2,217,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Sangeeta N. Bhatia sold 646 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,217,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The disclosure for this sale can be found here. Insiders have sold a total of 43,615 shares of company stock valued at $21,417,310 over the last quarter. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.1 %

NASDAQ:VRTX opened at $468.00 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $483.31 and its 200 day moving average is $448.57. The stock has a market capitalization of $120.77 billion, a PE ratio of 30.37 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.53 earnings per share. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current year.

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.