879 Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Acquired by Western Financial Corp CA

Western Financial Corp CA bought a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 879 shares of the pharmaceutical company’s stock, valued at approximately $409,000.

Several other institutional investors have also recently modified their holdings of VRTX. Northwest Investment Counselors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $25,000. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $27,000. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals in the second quarter valued at about $29,000. Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Founders Capital Management boosted its stake in shares of Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Guggenheim increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and issued a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday. Finally, Piper Sandler boosted their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $492.92.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX traded down $1.59 during mid-day trading on Monday, reaching $481.41. The company’s stock had a trading volume of 334,208 shares, compared to its average volume of 1,173,885. The stock has a market capitalization of $124.25 billion, a P/E ratio of -237.93 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 1-year low of $341.90 and a 1-year high of $510.64. The stock has a 50-day moving average of $475.21 and a two-hundred day moving average of $460.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. Vertex Pharmaceuticals’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 business posted $3.53 EPS. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was 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 owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,285 shares of company stock worth $7,101,755. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company 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.