Axxcess Wealth Management LLC Boosts Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Axxcess Wealth Management LLC boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,445 shares of the pharmaceutical company’s stock after purchasing an additional 217 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aveo Capital Partners LLC boosted its position in shares of Vertex Pharmaceuticals by 77.3% during the 4th quarter. Aveo Capital Partners LLC now owns 1,076 shares of the pharmaceutical company’s stock valued at $438,000 after acquiring an additional 469 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in Vertex Pharmaceuticals by 26.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,978 shares of the pharmaceutical company’s stock valued at $805,000 after purchasing an additional 414 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at $736,000. Brown Advisory Inc. grew its stake in shares of Vertex Pharmaceuticals by 25.0% in the 4th quarter. Brown Advisory Inc. now owns 3,522 shares of the pharmaceutical company’s stock worth $1,433,000 after buying an additional 705 shares in the last quarter. Finally, Sachetta LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $52,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $474.16 on Thursday. The stock has a market capitalization of $122.38 billion, a PE ratio of 30.77 and a beta of 0.40. The company has a 50 day moving average price of $483.42 and a 200-day moving average price of $451.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $341.85 and a fifty-two week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced 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 company had revenue of $2.65 billion for 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 firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $3.53 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the completion of the sale, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at $14,198,300.28. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock worth $16,843,806 over the last quarter. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of several recent research reports. TD Cowen lifted their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada cut their target price on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. StockNews.com downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Wells Fargo & Company increased their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Finally, Redburn Atlantic began coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They set a “buy” rating and a $545.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $485.91.

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.