Prime Capital Investment Advisors LLC Has $1.61 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Prime Capital Investment Advisors LLC raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,456 shares of the pharmaceutical company’s stock after buying an additional 78 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,607,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Groesbeck Investment Management Corp NJ grew its stake 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 worth $841,000 after acquiring an additional 21 shares during the last quarter. Mutual Advisors LLC grew its position in Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock worth $1,751,000 after purchasing an additional 21 shares during the last quarter. Institute for Wealth Management LLC. raised its position in shares of Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after buying an additional 22 shares during the last quarter. Drive Wealth Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 2.0% in the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after buying an additional 22 shares during the period. Finally, Daymark Wealth Partners LLC grew its position in Vertex Pharmaceuticals by 2.8% during the third 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. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on VRTX shares. Morgan Stanley raised their price objective on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group lifted their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Scotiabank increased their price objective on shares of Vertex Pharmaceuticals from $480.00 to $486.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. Finally, Royal Bank of Canada upped their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $499.12.

Vertex Pharmaceuticals Price Performance

VRTX opened at $483.96 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The company’s 50 day simple moving average is $476.13 and its 200-day simple moving average is $470.48. Vertex Pharmaceuticals Incorporated has a one year low of $341.90 and a one year high of $519.88. The stock has a market capitalization of $124.63 billion, a P/E ratio of -248.55 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the firm earned $3.67 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction dated 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 transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.