Moss Adams Wealth Advisors LLC Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Moss Adams Wealth Advisors LLC lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 563 shares of the pharmaceutical company’s stock after purchasing an additional 40 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of VRTX. Groesbeck Investment Management Corp NJ grew its position in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after purchasing an additional 21 shares during the period. Institute for Wealth Management LLC. boosted its holdings in Vertex Pharmaceuticals by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after buying an additional 22 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after buying an additional 22 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Vertex Pharmaceuticals by 5.7% in the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock valued at $191,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on VRTX. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research note on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective for the company. Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. TD Cowen boosted their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, StockNews.com cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $492.92.

Insiders Place Their Bets

In other news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Reshma Kewalramani sold 15,202 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $497.00, for a total value of $7,555,394.00. Following the sale, the chief executive officer now owns 106,172 shares of the company’s stock, valued at $52,767,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the business’s 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 transaction, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,487 shares of company stock worth $14,657,149 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX opened at $483.00 on Friday. The stock’s 50-day moving average price is $475.21 and its 200 day moving average price is $459.87. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The firm has a market cap of $124.64 billion, a price-to-earnings ratio of 31.34 and a beta of 0.40. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly 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 business 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 firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.53 EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current year.

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.