Diversify Wealth Management LLC Purchases 800 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Diversify Wealth Management LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 27.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,746 shares of the pharmaceutical company’s stock after acquiring an additional 800 shares during the quarter. Diversify Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,761,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $25,000. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth about $27,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $29,000. Stephens Consulting LLC bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth about $31,000. Finally, Founders Capital Management raised its stake in shares of Vertex Pharmaceuticals by 50.0% in the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $475.08 on Thursday. The stock has a market cap of $122.62 billion, a price-to-earnings ratio of -234.03 and a beta of 0.40. 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 stock has a 50 day moving average price of $474.81 and a 200-day moving average price of $463.87. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $510.64.

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 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 for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the business posted $3.53 earnings per share. Vertex Pharmaceuticals’s revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $600.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, October 21st. Morgan Stanley increased 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. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $472.00 to $509.00 in a research report on Monday, August 5th. Scotiabank started coverage on Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 target price for the company. Finally, UBS Group increased their target price on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $492.50.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the completion of the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on 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 approximately $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,710 shares of company stock valued at $3,298,206. 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.